13/9/17 The Difference between Business and Company
Though the terms business and company are many times used interchangeably, there is some difference between them. If you are engaged in an activity that earns you money on a continuous basis, you are said to be doing a business. Whether you are running a store, a factory, whether you are a dentist or a sportsperson, as long as you are making money out of your activity, and it is your career or profession, you are doing a business by selling goods or services. It does not matter whether you have registered yourself as a company or any other legal entity. Company, on the other hand, is a separate entity where you do your business. This is the basic explanation of the difference between a business and a company.
- to be engaged IN an activity
- to RUN a store, a business
- to earn money / an activity earns YOU money
- to DO business / to MAKE money
In the next two e-Lessons, we will briefly analyze what a business is and what a company is separately.