What Are the Main Differences Between Business and Trade?
A business is a company in which people usually work together for a common cause. In a business, individuals work to create and sell goods or services to customers. Others sell the goods and services acquired by others. The owner of the business is usually the individual who owns the company.
Every business has two different categories of people that it employs. These are the owners and employees. The owners are the ones who take care of the policies of the business and take on the responsibilities of providing goods and services to the customers. For example, if a restaurant owned by the owner hires waiters to serve customers food and drinks, then this is called staff work. The owner of such a restaurant is considered the owner of the establishment while the employee is the one performing the duties associated with the line of work.
Businesses can either produce or provide goods and services to consumers or they can act as intermediaries. Those who own retail outlets are intermediaries while other companies which provide goods and services to consumers are producers. It can be said that businesses are either producing or providing goods and services to produce the profits for the owners while providing benefits and payments to employees.