Role of Business in Economic Growth

Role of Business in Economic Growth

Businesses are technical-organizational economic units. They provide goods or services to cover needs and offer them on markets.

Companies, on the other hand, are legal economic entities for the provision of goods and services.

Connection of business and company

People often explain the connection between the terms business and company is quite different in theory and practice. The term “company” refers more to technical and organizational aspects. The term “company” refers to legal and financial aspects.

Businesses as technical-organizational economic units produce material goods or services.