These notes introduce various types of businesses. and offer initial reading for a new student of business studies. A number of overhead projector transparencies are also available which summarise aspects of UK law on companies. Commercial business is a human activity involving exchange for wealth creation and satisfaction of the parties to the exchange.
Someone sets up and runs a business for a reason.
They see an opportunity to produce goods and services that others may desire. In the marketplace, goods and services are bought and sold regulated by the rules of trading, legally defined obligations and basic ethical expectation. In exchange , income is allocated, wealth is generated. The young, the sick, the old, the people generally need to share in the general well-being of and organised, supportive community. Thus we have churches, health care, schools, charitable organisations and institutions of government - democratic or otherwise.