Business is the lifeline for any country which has excess of manpower and natural resources. In order to provide employment to the population, governments all over the world strive to ensure that these natural resources are effectively used by generating enough of employment opportunities and also bring in foreign exchange.

In many countries business is done exclusively by the governments. In India, we have public and private sectors which are into business and most of the sectors are competing with each other with respect to communication, oil, aviation and other service sectors too.

The countries that invest in extensive research and development invariably are more developed countries who are capable of mass production and producing quality products.

Business is that part of the activity that involves buying and selling, there is a definite commercial value wherein the seller intends to sell the product and the buyer intends to buy the product for a pre-determined value. The two parties - namely seller and buyer may be between individuals, between organisations, or between governments too. Business between the commercial organisations are definitely for profit whereas business done by the non -governmental organisations need not be for a profit but could be for upliftment of the poorer sections of the society or to revive some art or to provide livelihoods to a section of the area or restricted to a particular geographical area.

Business can be done in multiple ways by setting up a factory/industry to manufacture goods for sale both within the country or for export. Business can also be done by trading with different products produced by others typically act as distributor, retailer of the products. Business can also be done by rendering services, like management consultancy, recruitments advisors, lawyers, doctors etc   Business can also be done from home through selling the products online without setting up of a unit, showroom, etc. In fact, setting up of business is literally a lot easier now than it was earlier. The products are picked and delivered to the doorstep while the orders are placed from their home or office through apps of various selling platforms.      

Having said that, doing business is not a cake walk, one must have business tactics and should take the right decisions at the right time, be prepared to bear the loss at the same time maximise profits. Taking loans from banks for business could be easier but repayment is more critical and will be a key element to determine the credit worthiness of an individual or an enterprise.