A business is defined generally as an unincorporated private institution or entity actively engaged in commercial, corporate, or professional dealings. Companies can be either for-profit or nonprofit organizations that conduct business to meet a social cause or further a humanitarian purpose. The activities of a business may be physical, financial or emotional. They are undertaken for the purpose of earning revenue, providing profit, protecting the assets or property of the enterprise, generating income, distributing profits, making loans or paying employees. A business is usually established for the benefit of the entire community or society at large.
There are many different types of businesses but all businesses share some common characteristics including: the need for capital investment, ability to do business globally, need for long term commitment, the need for resource allocation and diversification, management and leadership skills, social responsibility, and management structure. As businesses grow and develop over time, it becomes increasingly necessary for them to meet the changing needs of their customers or clients and their own unique set of business needs. As newer businesses are created, old businesses are replaced and later on the people who are leaving one business or organization are replaced by people with new business ideas.
It seems as if there are a lot of European characteristics that lend themselves to businesses. Many businesses are small-scale and produce goods or services locally. Many businesses have the tendency to look for international markets to expand their market share and attract new customers. Some businesses are very entrepreneurial and create new technologies or useful products and services to sell to Europeans.