Business

Business is a very broad term used for trading or offering a service to people. There are many different industry sectors and business types as almost everything that we do involves some sort of service or product.

The main three areas of business can be broken down into primary, secondary and tertiary. The primary sectors of industry are businesses that create a product at the lowest level, for instance farmers, miners and fishers. Secondary business types are businesses that manufacture, build or process where as tertiary is all the businesses that offer a service, such as the police or a shop. This is a bit of a simplification though and applies more to economics. There are many more types of business such as, marketing, sales, retailers, distribution, agriculture, financial, utilities, real estate and transport.

It can take a lot to go into business and the latest figures show that over fifty percent of businesses fail withen the first four years, but don’t let that put you off. There are a lot of options open to the new business owner, such as government backing and tax breaks, and with a little research and hard work you could be the owner of a profitable and sustainable business!