Define business

You might be surprised to learn most states don’t require businesses to hold a general business license to operate in the state. But your business may be required to apply for a license to do business in your industry, in your city or in your county. Keep reading to learn what a business license is, when and where a license is required, and how to get a license if you need one. Learn More On Tailor Brand's Website What Is a Business License? A business license is any kind of license or permit that a state or other government entity requires businesses to have in order to do business. Federal, state and local agencies issue various types of business licenses and permits for a variety of business activities. What Kinds of Businesses Need a License? It varies by state but generally, businesses tend to need licenses or permits for a few common reasons: • If you operate a brick-and-mortar business, you may need permits to allow commercial activity on the property and to build or remodel the building. Your municipality might also require permits for things like signage and fire safety. • If you sell goods, most states require you to get a seller’s permit. This permit lets you collect sales tax from customers. • If you provide services that require licenses, i.e. a stylist, electrician, childcare provider, lawyer, medical care provider, accountant; or you sell food, alcohol or tobacco; or provide other services that are regulated by state or federal laws, you’ll need industry-spe...

Synonyms of business • • as in patronage • as in firm • as in matter • as in commerce • as in purpose • as in area • as in job • as in treachery • • as in patronage • as in firm • as in matter • as in commerce • as in purpose • as in area • as in job • as in treachery • Synonym Chooser • Phrases Containing • Related Articles • Entries Near •

• With sales down, the company closed one factory down and reduced the workforce at another. • Many of the shops on the main street have closed recently. • The bookshop is shutting down after 25 years of business. • UKSeveral of the bank's local branches are shutting. • USThe old distillery has finally closed up shop. • My favorite ice cream shop went out of business last summer.

What Is a Corporation? A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. The board of directors executes the corporation's business plan. Although the members are not personally responsible for the corporation's debts, they owe a duty of care to the corporation and can incur personal liabilities if they neglect this duty. Some tax statutes also provide for the personal liabilities of the board of directors. Many businesses are corporations, and vice versa. A business may seek to incorporate existing as a legal entity separate from its owners. This means that the owners cannot be held responsible for the debts of the corporation. It also means that the corporation can own assets, sue or be sued, and borrow money. Both a limited liability company (LLC) and a corporation offer similar legal advantages to their owners: they cannot be held liable for the debts of either entity. LLCs have a tax advantage in that they are "pass-through," with profits and tax responsibility passed to the owners rather than paid by the LLC. LLCs are governed by an operating agreement that sets out the roles and responsibilities of its members, and establishing an LLC is relatively straightforward. By comparison, a corporation elects a board of directors, conducts annu...

What Is Business Forecasting? Business forecasting involves making informed guesses about certain business metrics, regardless of whether they reflect the specifics of a business, such as sales growth, or predictions for the economy as a whole. Financial and operational decisions are made based on economic conditions and how the future looks, albeit uncertain. • Forecasting is valuable to businesses so that they can make informed business decisions. • Financial forecasts are fundamentally informed guesses, and there are risks involved in relying on past data and methods that cannot include certain variables. • Forecasting approaches include qualitative models and quantitative models. Understanding Business Forecasting Companies use forecasting to help them develop business strategies. Past data is collected and analyzed so that patterns can be found. Today, big data and artificial intelligence has transformed business forecasting methods. There are several different methods by which a business forecast is made. All the methods fall into one of two overarching approaches: • A problem or data point is chosen. This can be something like "will people buy a high-end coffee maker?" or "what will our sales be in March next year?" • Theoretical variables and an ideal data set are chosen. This is where the forecaster identifies the relevant variables that need to be considered and decides how to collect the data. • Assumption time. To cut down the time and data needed to make a for...

The Characteristics of an Entrepreneur You might well wonder whether entrepreneur simply means “a person who starts a business and is willing to risk loss in order to make money” or whether it carries an additional connotation of far-sightedness and innovation. The answer, perhaps unsatisfyingly, is that it can go in either direction. Entrepreneur has been used in English to refer to a kind of businessman since at least the middle of the 18th century, when it appeared in translation of the King of Prussia’s instructions for his generals (“. . . if the country happens not to abound in forage, you must agree with some Entrepreneur for the quantity required.”). During the 19th century, it was also used of a By the early 20th century entrepreneur appears to have taken on the connotation of entrepreneurial spirit, which began being used at about the same time. Recent Examples on the Web Here’s the real performance of anti-woke entrepreneurs The debt ceiling deal has reduced access to supplemental food plans. — Bob Meers, Fortune, 9 June 2023 On Thursday, the 27-year-old entrepreneur posted a carousel of Instagram photos that included a sweet new photo of her baby daughter Holland, 3 weeks, lying in bed with her. — Hannah Sacks, Peoplemag, 9 June 2023 All in one spot, Comerica customers can grab coffee and a desk or conference room, tap into speedy Wi-Fi, work remotely and hold meetings with clients and partners — plus network with other entrepreneurs. — Raya Rockwood, Dallas Ne...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem. • A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. • Businesses can be for-profit entities or non-profit organizations. • Business types range from limited liability companies to sole proprietorships, corporations, and partnerships. • Some businesses run as small operations in a single industry while others are large operations that spread across many industries around the world. • Apple and Walmart are two examples of well-known, successful businesses. Determining the legal structure of the business is an important factor to consider, since business owners may need to secure permits and licenses and follow registration requirements to begin legal operations. Corporations are considered to be juridical persons in many countries, meaning that the business can own property, take on Mid-Sized Enterprises There is no definitive specificati...