The Business Portal
Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."
Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.
Carucage was a medieval English land tax introduced by King Richard I in 1194, based on the size—variously calculated—of the estate owned by the taxpayer. It was a replacement for the danegeld, last imposed in 1162, which had become difficult to collect because of an increasing number of exemptions. Carucage was levied just six times: by Richard in 1194 and 1198; John, his brother and successor, in 1200; and John's son, Henry III, in 1217, 1220, and 1224, after which it was replaced by taxes on income and personal property.
Carucage was an attempt to secure new sources of revenue in order to supplement and increase royal income in a time when new demands were being made on royal finances. Although derived from the older danegeld, carucage was an experiment in revenue collection, but it was only levied for specific purposes, rather than as a regularly assessed tax. Also new was the fact later collections were imposed with the consent of the barons. However, the main flow of royal income was from other sources, and carucage was not collected again after 1224.
Photo credit: Raysonho @ Open Grid Scheduler / Grid Engine
A supermarket, a large form of the traditional grocery store, is a self-service shop offering a wide variety of food and household products, organized into aisles. It is larger in size and has a wider selection than a traditional grocery store, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market.
The following are images from various business-related articles on Wikipedia.
"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844.
Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton, was a European entrepreneur who helped design the first modern car
A vegetable seller in a rural Sri Lankan village
A bond issued by the Dutch East India Company (VOC), dating from 1623, for the amount of 2,400 florins
Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010.
Dell Women's Entrepreneur Network event in New York City
In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C.
Time required to start a business in 2017
Apple co-founder and longtime leader Steve Jobs (pictured in 2010) led the introduction of many innovations in the computer, smartphone and digital music industries
On this day in Business history...
Did you know
- ... that Italy is the third largest producer of wine in the world?
- ...that Calouste Gulbenkian was known as Mr. Five Percent because he retained 5% of the shares of Royal Dutch/Shell, the second-largest corporation in the world by revenue, which he participated in the formation of in 1907?
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