Business differs from employment about the following points: -
Nature of Activity – Business deals with providing goods and services for the satisfaction of the wants of the customer. But employment involves performing the work assigned by the employer under the contract of service.
Profit Motive – A businessman carries out economic activities to earn a profit, but an employee earns wages or salaries.
Capital – A business can’t be run without any capital. But in the case of employment, there is no need for any capital investment.
Degree of risk – A business is exposed to so many risks. But in the case of employment, there is practically no risk.
Transferability of Interest – Transfer of ownership interest is possible in the case of business. It is not possible to transfer one’s job to another.