A platform either physical or digital which enables you to sell products and services in exchange for money is called business. Every business needs input so it can generate the output in the form of profit and that input is an investment. A smart and successful business is the one that doubles your investment. Or in other cases, it must not be pushing you towards loss and must be capable of reaching the breakeven point (No profit and no loss) situation.

Businesses can be of several types:

State-owned business
Private business
Nonprofit business

Pepsi and Coke are the major examples of the corporate world business while a train station owned by the government is an example of state-owned businesses.

Businesses play a vital role in maintaining and flourishing the economy of any country. State-owned businesses create revenues in the form of taxes etc which are utilized for the betterment of the public. A high business ratio in any country ensures employment in the country as well.