Why persons engage in business

People also engage in business to make a difference in the world. Bill Gates has been financially successful as the founder and leader of Microsoft, but he also relishes in what the technological innovation of his company has done for global communication. Gates also gives a lot of money to charity through the Bill Gates Foundation. Business Law may be defined as that branch of law which prescribes a set of governance of certain transactions and relations between:Business persons themselves,Business persons and their customers, dealers, suppliers, etc.

The nature of the business law is that it acts in respect to the location of the business and the area of activity. The business law usually depends on the governing authority. The person or persons who control or direct a business or other enterprise. Source: Answers. Firms do engage in strategic management as do all business enterprises.

If you fail to plan you plan to fail. If we exclude various exemptions, credits, deductions, and inducements available to business persons as opposed to private persons and vice versa , net income is generally taxed at a uniform rate for all persons - where business entities are deemed to be legal persons - with income subject to taxation.

Robber barons. To relate or belong to; to have reference to or connection with; to affect the interest of; to be of importance to. Persons should not engage in smoking or drug abuse to decrease the risk of oral cancer.

It would depend on what business you wish to engage in. Putang ina mo naman! All businesses that engage in commerce are "commercial.

Some are small, and some are large. The doctors of course, or else, nurses too Log in. Investing and Financial Markets. Business and Industry. Study now. See Answer. Best Answer. Some people have a dream of having a successful business of their own.

They want to see themselves and their business to be among the best. People who aims at becoming an entrepreneur from the very beginning of their career, prepares themselves with the complete market knowledge and indulges themselves when they get the opportunity.

Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Business Featured — 27 July Related Articles. Why do we celebrate world health day April 06, Why do people love IPL April 03, If a 9 to 5 gig doesn't fit into your lifestyle maybe it's time to go into business for yourself. In today's world with a generation of young entrepreneurs it's very easy to create a job for yourself.

If you don't have the means to do what you truly want to in your day job then why not create a job that lets you learn new skills and do what you love. If you've ever watched an episode of Shark Tank you know that having a wonderful idea is a good start, however there also has to be a need in the market for your goods or services. If you can't sell your products then you won't make any money. Money may be one reason why people go into business for themselves.

It's hard work, but you will reap the rewards if you stay cash flow positive, spend wisely and grow at a steady rate. This happens by having a profitable client base.