What is a business?

A business is an organised system where goods are traded for money, it can be a service or just selling goods. In a business you require a form of investment, it can't just come from no where it needs to meet specific conditions before you can start or else you will make no profit from your business.

Things needed to start a business:

>Good location (preferably one with high demand of product and services, little or no competing businesses and a high population)

>Plan how you are going to run your business and compete against larger businesses and make your business stand out from others

>Meeting customer demands and expectations

>Chooses a target audience (Be very specific for who your target audience will be e.g. is it for men/women? is it for uder 16 year olds, is it for people with spotty skin?

Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.

Businesses can be privately owned, not-for-profit or state-owned. An example of a corporate business is PepsiCo, while a mom-and-pop catering business is a private enterprise.

Read more: http://www.businessdictionary.com/definition/business.html#ixzz34Pvfp8gi

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