What is Business in Simple Words

 Unique Business Ideas

Introduction:

Society is the name of interaction of human beings for their mutual needs. It means all human beings are interdependent in order to live life. Every work can’t be done by a single person. This is a natural process for human survival. Some are doctors, others are engineers. So there are as many professions in the world as many human beings are. Creating ease for someone by serving, providing products required and charging for the ease is called business. For example, hairdresser ease you by getting you rid of extra hairs that tease you and demands rewards for the service provided. In the same way, shopkeepers help you find easily what you need and in return make profit on the products sell by them.

Now why do people do business? As we stated earlier that we all are interdependent to live life. People do business to meet their needs. Whenever we make profit in our business, we use that profit to meet our needs.  

There are two types of business. Number one is the provision of services that people need in certain area. Second is manufacturing some products to meet the needs of people. Both types are equally important.

 Manufacturing sector is the most challenging type of business. It demands investment, laborious efforts, skills, innovation and planning. It is done by the most intelligent people called entrepreneurs . It also stakes high risks of losing money. However, it also provides huge profits in case of success. On the other side, service sector businesses are not too much risky but they make much less profits as compared to the manufacturing business.

The word opposite of business is job. A job is actually a contract of providing services to some one on an agreed amount of money and time. Enthusiastic people do business while people of opposite nature rely on jobs. They work for others to make money and in return they get paid by the employer. But they are relaxed as they have to lose nothing. But they don’t have finance freedom. They have a fear of losing a job until they save some money. Their performance is strictly calibrated with the passage of time too. So starting some business is far better than remaining in job forever. There are a lot of businesses that can be done but it’s very important to check your taste and temperament before starting a business.