Portal:Business

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Introduction

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] 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.

Selected article

At Old Street, street markings and a sign (inset) with the white-on-red C alert drivers to the charge. The sign displays the original operating hours for the scheme.

The London congestion charge is a fee charged on most motor vehicles operating within the Congestion Charge Zone (CCZ) in central London between 07:00 and 18:00 (Monday-Friday only). The charge, which was introduced on 17 February 2003, remains one of the largest congestion zones in the world despite the cancellation of the Western Extension which operated between February 2007 and January 2011. The charge aims to reduce congestion, and to raise investment funds for London's transport system. The standard charge is £10 for each day, for each non-exempt vehicle that travels within the zone with a penalty of between £60 and £187 levied for non-payment. Enforcement is primarily based on automatic number plate recognition (ANPR). Transport for London (TfL) is responsible for the charge which has been operated by IBM since 1 November 2009.

Selected image

The Financial Tower in Ho Chi Minh City.
Photo credit: Genghiskhanviet

Bitexco Financial Tower is a skyscraper in Ho Chi Minh City, Vietnam, owned by Bitexco Group, a Vietnamese company. With 68 floors above ground and three basements, the building has a height of 262.5 metres (861 ft), making it the 124th tallest building in the world. The tower was made by the French company AREP and architects J.M. Duthilleul, E. Tricaud and Carlos Zapata. World renowned Ecuadorian architect Carlos Zapata, who was behind Bitexco Financial Tower, drew inspiration for this skyscraper’s unique shape from Vietnam’s national flower, the Lotus. The tower was the tallest building in Vietnam from 2010 to early 2011 when Keangnam Hanoi Landmark Tower topped out on 24 January 2011. The tower was officially inaugurated on October 31, 2010.

Selected economy

...The Economy of Hong Kong is widely believed to be the most economically free in the world. It has often been cited by economists such as Milton Friedman and the Cato Institute as an example of the benefits of laissez-faire capitalism. While the government, both under British and PRC rule, has occasionally intervened in the economy, the free market policy of Positive non-interventionism espoused by former financial secretary John James Cowperthwaite still largely drives economic policy today. It has ranked as the world's freest economy in the Index of Economic Freedom for 13 consecutive years, since the inception of the index in 1995. It also places first in the Economic Freedom of the World Report.

No official GDP was measured by the government until 1971. Any GDP formed prior to this period was based on international trade statistics that came after 1971. This is a chart of trend of real gross domestic product of Hong Kong at constant market prices by the International Monetary Fund with figures in millions of Hong Kong Dollars. In 2006, Hong Kong's GDP ranked as the 40th highest in the world at US$253.1 billion. Its per-capita GDP ranked as the 15th highest at US$36,500, notably ahead of countries such as Canada, Japan, Switzerland, and the United Kingdom, and still well ahead of the People's Republic of China. The very center of Hong Kong's economic freedom comes from the government's hands-off policy. This model was developed in Hong Kong and Taiwan as a response to analyzing the cultural revolution affect in China. The Maoist era forecasted the production of steel, and the inability to produce led to the immediate collapse of the economy. Hong Kong's model allowed for the flexibility and renovation of any given industry in a very short time. Because of this, a 1994 World Bank report stated that Hong Kong's GDP per capita grew in real terms at an annual rate of 6.5% from 1965 to 1989. This consistent growth percentage over a span of almost 25 years is remarkable for any economic analysis. By 1990 Hong Kong's per capita income officially surpassed that of the ruling United Kingdom.

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Every manufacturer is confronted with the problem of finding the most economical quantity to manufacture in putting through an order. This is a general problem and admits of a general solution, and, however much it may be advisable to exercise judgment in a particular case, such exercise of judgment will be assisted by a knowledge of the general solution.

The writer has seen the practical workings of a first-class stock system and does not wish to be understood as claiming that any mere mathematical formula should be depended upon entirely for determining the amount of stock that should be carried or put through on an order. This is a matter that calls, in each case, for a trained judgment, for which there is no substitute.

There are many other factors of even more importance than those given in this discussion. But in deciding on the best size of order, the man responsible should consider all the factors that are mentioned. While it is perfectly possible to estimate closely enough what effect these factors will have, the chances are many mistakes costing money will be made. Hence, using the formula as a check, is at least warranted. Given the theoretically correct result, it is easy to apply such correction factors as may be deemed necessary.

Ford Whitman Harris, How many parts to make at once, 1913

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Anne Robert Jacques Turgot, Baron de Laune

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