A business (also known as a company, enterprise, and firm) is a legally recognized organisation designed to provide goods or services or both, to consumers businesses and governmental entities.[1] Businesses are predominant in capitalist economies. Most businesses are privately owned. A business is typically formed to earn profit that will increase the wealth of its owners and grow the business itself. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. Notable exceptions include cooperrative enterprises and state-owned enterprise. Businesses can also be formed not for profit or be state-owned.
"business" relates to the state of being busy either as an
individual or society as a whole, doing commercially viable and
profitable work. The term "business" has at least three usages,
depending on the scope — the singular usage (above) to mean a
particular company or corporation, the generalized usage to refer to a particular market sector, such as "the music business" and compound forms such as agribusiness,
or the broadest meaning to include all activity by the community of
suppliers of goods and services.