A business is an organisation that exists to provide goods and services on a commercial basis to customers.

Goods are physical products that can be traded.

Services are intangible products, a task is fulfilled by a business to save someone without the time, expertise, or the equipment the effort of sorting it out themselves.

They come in many forms

Benefits to society

  • Sustain economy
  • Creates jobs
  • Increases consumer spending
  • Tax
  • Provide amenities
  • Drives innovation
  • Increased (international) investment

Public Sector businesses tend to exist to benefit society.

Business’s begin their corporate life as a startup, more information on startups can be found here