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The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. This chart is from 2017 statistics.

Fish for sale in Dhaka, Bangladesh, with a price tag of 395 Bangladeshi taka per kilogram.

Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services).^{[need quotation to verify]} It is also "any activity or enterprise entered into for profit."

Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

The term is also often used colloquially (but not by lawyers or by public officials) to refer to a corporation, such as a company or cooperative. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is the social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics is a field which analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. (Full article...)

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A photograph of traders on the New York Stock Exchange floor in 1963

Capitalism is an economic system in which the means of production are privately owned and operated for profit, usually in competitive markets. Income in a capitalist system takes at least two forms, profit on the one hand and wages on the other. There is also a tradition that treats rent, income from the control of natural resources, as a third phenomenon distinct from either of those. In any case, profit is what is received, by virtue of control of the tools of production, by those who provide the capital. Often profits are used to expand an enterprise, thus creating more jobs and wealth. Wages are received by those who provide a service to the enterprise, also known as workers, but do not have an ownership stake in it, and are therefore compensated irrespective of whether the enterprise makes a profit or a loss. In the case of profitable enterprise, profits are therefore not translated to workers except at the discretion of the owners, who may or may not receive increased compensation, whereas losses are not translated to workers except at similar discretion manifested by decreased compensation. (Full article...)

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Office supplies being sold.

Photo credit: Marlith

Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). The office supply industry was estimated to be worth US$ 225 billion in 1999 and is still growing. As of 2006^[update], the largest office supply chains in the United States (in terms of revenue) are Staples (US$16B), Office Depot (US$15B), and OfficeMax (US$8.9B).

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Lima, the financial centre of Peru

The economy of Peru is an emerging, social market economy characterized by a high level of foreign trade and an upper middle income economy as classified by the World Bank. Peru has the forty-seventh largest economy in the world by total GDP and currently experiences a high human development index. The country was one of the world's fastest-growing economies in 2012, with a GDP growth rate of 6.3%. The economy was expected to increase 9.3% in 2021, in a rebound from the COVID-19 pandemic in Peru. Peru has signed a number of free trade agreements with its main trade partners. China became the nation's largest trading partner following the China–Peru Free Trade Agreement signed on 28 April 2009. Additional free trade agreements have been signed with the United States in 2006, Japan in 2011 and the European Union in 2012. Trade and industry are centralized in Lima while agricultural exports have led to regional development within the nation. (Full article...)

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"Condit's successors once again emphasized civil aviation. The 777 is a success, and the Dreamliner appears a better vehicle for the future than the huge Airbus 380. By 2008, Boeing had regained from Airbus its leading position in commercial aviation and the share price its earlier value. At Boeing, as at ICI, shareholder value was most effectively created when sought obliquely.

That profit-seeking paradox, like the conundrum of happiness, illustrates the power of obliquity. Comparisons of the same companies over time are echoed in contrasts between different companies in the same industries. Jim Collins and Jerry Porras undertook paired comparisons between outstanding ('visionary') companies and adequate, but less remarkable firms with similar operations. Merck and Pfizer was one such comparison. Collins and Porras compared oblique philosophy of George Merck-'We try never to forget that medicine is for the people. It is not for the profits. The profits follow, and if we have remembered that, they have never failed to appear. The better we have remembered it, the larger they have been'-with the directness of John McKeen of Pfizer-'So far as humanly possible, we aim to get profit out of everything we do'."

—John Kay, Obliquity, 2010

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Related WikiProjects

Did you know (auto-generated) - load new batch

... that IBM worker organizations compared the company's business deals with apartheid South Africa in the 1970s to those with Nazi Germany?
... that Pierre Schlumberger ran the family business, was a "visionary" art collector, and hosted guests including Audrey Hepburn, Yves Saint Laurent, Andy Warhol, and Rudolf Nureyev?
... that after Lew Dickey Sr. broke into the radio business by buying a station in West Virginia, his son would go on to own Cumulus Media?
... that Jo Beall, a British scholar of development economics, was once imprisoned for anti-apartheid activism?
... that the day employees of Boston television station WLVI received new business cards, they learned the station would be sold and they would lose their jobs?
... that after his father was murdered, Samuel Street Jr. lived with his uncle, Samuel Street, and they were both businessmen in the Niagara region?

On this day in business history

August 12:

1861 - Eliphalet Remington, American inventor and businessman, founder of Remington Arms died on this day.

More on this day

General images

The following are images from various business-related articles on Wikipedia.

Image 1Time required to start a business in 2017 (from Business)
Image 21/8 share of the Stora Kopparberg mine, dated June 16, 1288. (from Corporation)
Image 3McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 4Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 5Malala Yousafzai, a Pakistani activist, social entrepreneur and youngest-ever Nobel Peace Prize winner (from Entrepreneurship)
Image 6A Hollister Co. store in Leeds, England; the clothing retailing is a prominent sales market (from Sales)
Image 7"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844. (from Corporation)
Image 8Fish for sale in Dhaka, Bangladesh, with a price tag of 395 Bangladeshi taka per kilogram. (from Business)
Image 9Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 10Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
Image 11In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)
Image 12A vegetable seller in a rural Sri Lankan village (from Sales)
Image 13Apple co-founder and longtime leader Steve Jobs (pictured in 2010) led the introduction of many innovations in the computer, smartphone and digital music industries (from Entrepreneurship)
Image 14Replica of an East Indiaman of the Dutch East India Company (VOC) (from Corporation)
Image 15Offices in the Los Angeles Downtown Financial District (from Business)
Image 16Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 17Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 18A beach salesman showing necklaces to a tourist in Mexico (from Sales)
Image 19A bond issued by the Dutch East India Company (VOC), dating from 1623, for the amount of 2,400 florins (from Corporation)
Image 20Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)

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More did you know

... that Italy is the third largest producer of wine in the world?

...that Calouste Gulbenkian was known as Mr. Five Percent because he retained 5% of the shares of Royal Dutch/Shell, the second-largest corporation in the world by revenue, which he participated in the formation of in 1907?

...that prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979 as a psychologically realistic alternative to expected utility theory?

...that Nobel laureate Amartya Sen's publications in the 1960s and 1970s helped develop social choice theory, which first came to prominence in the work by the American economist Kenneth Arrow?