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The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. This chart is from 2017 statistics.

Fish for sale in Dhaka, Bangladesh, with a price tag of 395 Bangladeshi taka per kilogram.

Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services).^{[need quotation to verify]} It is also "any activity or enterprise entered into for profit."

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. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is the social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics is a field which analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. (Full article...)

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J.P. Morgan's acquisition of Carnegie Steel Company in 1901 represents arguably the first true modern buyout

The history of private equity and venture capital and the development of these asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.

Since the origins of the modern private equity industry in 1946, there have been four major epochs marked by three boom and bust cycles. The early history of private equity — from 1946 through 1981 — was characterized by relatively small volumes of private equity investment, rudimentary firm organizations and limited awareness of and familiarity with the private equity industry. The first boom and bust cycle — from 1982 through 1993 — was characterized by the dramatic surge in leveraged buyout activity financed by junk bonds and culminating in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s. The second boom and bust cycle (from 1992 through 2002) emerged out of the ashes of the savings and loan crisis, the insider trading scandals, the real estate market collapse and the recession of the early 1990s. This period saw the emergence of more institutionalized private equity firms, ultimately culminating in the massive Dot-com bubble in 1999 and 2000. The third boom and bust cycle (from 2003 through 2007) came in the wake of the collapse of the Dot-com bubble—leveraged buyouts reach unparalleled size and the institutionalization of private equity firms is exemplified by the Blackstone Group's 2007 initial public offering.

In its early years through roughly the year 2000, the history of the private equity and venture capital asset classes is best described through a narrative of developments in the United States as private equity in Europe consistently lagged behind the North American industry. With the second private equity boom in the mid-1990s and liberalization of regulation for institutional investors in Europe, the emergence of a mature European private equity market has occurred.

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ROBOCRANE® PROJECT Large Scale Manufacturing using Cable Control

Photo credit: Genghiskhanviet

Manufacturing is the production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale. Such finished goods may be used for manufacturing other, more complex products, such as aircraft, household appliances or automobiles, or sold to wholesalers, who in turn sell them to retailers, who then sell them to end users – the "consumers".

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Tripoli financial capital of Libya

The economy of Libya depends primarily on revenues from the petroleum sector, which represents over 95% of export earnings and 60% of GDP. These oil revenues and a small population have given Libya one of the highest nominal per capita GDP in Africa.

After 2000, Libya recorded favourable growth rates with an estimated 10.6% growth of GDP in 2010. This development was interrupted by the Libyan Civil War, which resulted in contraction of the economy by 62.1% in 2011. After the war, the economy rebounded by 104.5% in 2012. It crashed again following the Second Libyan Civil War. As of 2017, Libya's per capita PPP GDP stands at 60% of its pre-war level. (Full article...)

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"Political Economy or Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing.

Thus it is on the one side a study of wealth; and on the other, and more important side, a part of the study of man. For man's character has been moulded by his every-day work, and the material resources which he thereby procures, more than by any other influence unless it be that of his religious ideals; and the two great forming agencies of the world's history have been the religious and the economic. Here and there the ardour of the military or the artistic spirit has been for a while predominant: but religious and economic influences have nowhere been displaced from the front rank even for a time; and they have nearly always been more important than all others put together. Religious motives are more intense than economic, but their direct action seldom extends over so large a part of life. For the business by which a person earns his livelihood generally fills his thoughts during by far the greater part of those hours in which his mind is at its best; during them his character is being formed by the way in which he uses his faculties in his work, by the thoughts and the feelings which it suggests, and by his relations to his associates in work, his employers or his employees."

—Alfred Marshall, Principles of Economics, 1890

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Did you know (auto-generated) - load new batch

... that after starting Los Angeles Spanish-language television station KVEA, a group led by Saul Steinberg bought other Spanish-language stations to form the Telemundo network?
... that upon its completion, 400 Madison Avenue in New York City was described as one of several buildings that comprised the "Grand Canyon of midtown business"?
... that cooking manga achieved mainstream popularity in the 1980s as a result of the "gourmet boom" associated with the Japanese bubble economy?
... that William Henry Ellis spearheaded a plan to colonize Black Americans in Mexico in the late 19th century?
... that Mary V. R. Thayer was briefly arrested on suspicion of spying after abandoning a 1929 business trip in the Soviet Union to explore the Caucasus?
... that IBM worker organizations compared the company's business deals with apartheid South Africa in the 1970s to those with Nazi Germany?

On this day in business history

May 28:

1975 - Fifteen West African countries sign the Treaty of Lagos, creating the Economic Community of West African States.

More on this day

General images

The following are images from various business-related articles on Wikipedia.

Image 1A vegetable seller in a rural Sri Lankan village (from Sales)
Image 2McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 3Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 4A Hollister Co. store in Leeds, England; the clothing retailing is a prominent sales market (from Sales)
Image 5Malala Yousafzai, a Pakistani activist, social entrepreneur and youngest-ever Nobel Peace Prize winner (from Entrepreneurship)
Image 6Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 7In 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. (from Entrepreneurship)
Image 8Emil 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 (from Entrepreneurship)
Image 9A beach salesman showing necklaces to a tourist in Mexico (from Sales)
Image 10Time required to start a business in 2017 (from Business)
Image 11Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 121/8 share of the Stora Kopparberg mine, dated June 16, 1288. (from Corporation)
Image 13Offices in the Los Angeles Downtown Financial District (from Business)
Image 14"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. (from Corporation)
Image 15Apple co-founder and longtime leader Steve Jobs (pictured in 2010) led the introduction of many innovations in the computer, smartphone and digital music industries (from Entrepreneurship)
Image 16Fish for sale in Dhaka, Bangladesh, with a price tag of 395 Bangladeshi taka per kilogram. (from Business)
Image 17A bond issued by the Dutch East India Company (VOC), dating from 1623, for the amount of 2,400 florins (from Corporation)
Image 1817th-century Walloon-Dutch-Swedish businessman Louis De Geer (1587–1652) was a pioneering entrepreneur and industrialist at the dawn of modern capitalism. (from Entrepreneurship)
Image 19Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 20Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)
Image 21Replica of an East Indiaman of the Dutch East India Company (VOC) (from Corporation)

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More did you know

...that Gold Fixing is the procedure by which the price of gold is set on the London market by the five members of the London Bullion Market Association?

...that the Heroninos Archive contains examples of a complex and standardized system of accounting used in 3rd century Roman Egypt?

...that Jerry White, cofounder of the Landmine Survivors Network, delivered the 2005 commencement address at the University of Michigan's Ross School of Business?

...that the melting and export of cents and nickels can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years?

...that the Vatican City, has an Automated teller machine (ATM) with instructions in Latin?

... that the GDP deflator (implicit price deflator for GDP) is a price index measuring changes in prices of all new, domestically produced, final goods and services in an economy.