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Features of Business

>> August 19, 2011



Following are main features of business

 1. Economic Activity

Business is sum of economic activities. We can say all activities in which goods are produced, purchased and sold. Social welfare activities are not included in it. 

2. Aim of Earn Profit

 It is the feature of business that all activities are done for the aim of earning profit. If we collect donation for providing services to others, it will not be business. 

3. Risk of Loss

In business, businessman takes the risk of loss of his capital. He has to face internal and outside business environment. Risk and uncertainty are the inseparable parts of business. 

4. Regular Dealing 

Regular dealing in business transaction is must for a business. An isolated transaction can not be called as a business transaction. Thus, business involves regular dealing in transaction. 



5. Freedom 


Freedom is also an important element of business. The functioning of a business is at the discretion of the entrepreneur. Functioning of a business is at the discretion of the entrepreneur. 




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