From ACT Wiki
Jump to navigationJump to search


Activities undertaken for the purpose of earning profits.

Larger businesses are normally undertaken by companies. Smaller and medium-sized businesses are more commonly undertaken by sole traders or by partnerships.


Any serious or important work or activities, especially when undertaken by an organisation.

For example, the UK's HM Revenue & Customs describes itself as having three Business areas: digital, customer services and compliance.


From the context of treasury or other central functions, the term 'the business' may refer to the customer facing operations of the organisation (excluding treasury for example).


The sector of the economy consisting of profit-seeking organisations.

Sometimes known as the private sector.

See also