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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.
Small business vendors at a public market

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌkə-/) is a 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 analyses what is viewed as the basic elements of economies, including individual agents and markets, their interactions, and the outcomes of those interactions. Individual agents may include households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. (Full article...)

Selected article

Ma in 2018

Ma Yun (Chinese: 马云; pinyin: Mǎ Yún; born 10 September 1964), also known as Jack Ma, is a Chinese businessman and philanthropist. He is the founder of the Jack Ma Foundation, and co-founder of Alibaba Group and Yunfeng Capital. He is one of the richest men in China with a net worth of approx US$27.5 billion.

After taking the gaokao three times, Ma earned a bachelor's degree in English from Hangzhou Normal University in 1988 and was assigned as a lecturer at Hangzhou Dianzi University. A pioneer of Internet business in China, he founded a translation agency in 1994 and launched its website the following year, before leaving his university position to run an online yellow pages service, which was acquired by China Telecommunications Corporation in 1996. Following an uneasy collaboration with the state-owned enterprise, Ma left the company in 1997 and went on to develop websites for China's Ministry of Foreign Trade and Economic Cooperation. In 1999, he co-founded Alibaba Group, initially as a business-to-business (B2B) e-commerce marketplace and later expanded into a multinational conglomerate.

Selected image

Westfield London shopping centre in London, England.
Photo credit: Genghiskhanviet

A shopping mall, shopping centre/center, shopping arcade, shopping precinct, or simply just a mall, is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to walk from unit to unit. Other establishments including movie theaters and restaurants are also often included.

Selected economy

Yangon, the financial center of Myanmar

Myanmar has a lower-middle income economy that is considered the seventh largest in Southeast Asia and among the world's least developed. After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. Myanmar has faced an economic crisis since the 2021 coup d'état. According to the International Monetary Fund (IMF), the nation generates $83.83 billion in nominal gross domestic product (GDP) and $293.91 by purchasing power parity (PPP), as of 2026. Myanmar's GDP per capita stands at $1,519. (Full article...)

Selected quote

It can readily be seen that such a plan of management as this will bring out co-operation as would no other plan; and it should be stated here emphatically that there is nothing that can permanently bring about results from scientific management, and the economies that it is possible to effect by it, unless the organization is supported by the hearty co-operation of the men. Without this there is no scientific management.

Moreover, since the conditions which bring about the cooperation are measured and standardized, the result is stable. Co-operation without standardization is a most unstable thing, likely to disappear at any moment with a change of the individuals supposed to co-operate.

Frank Bunker Gilbreth, Sr., Units, Methods, and Devices of Measurement Under Scientific Management, 1913

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On this day in business history

August 30:

  • 1930 - Warren Buffett, an American business magnate, investor, and philanthropist, was born on this day.

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

More did you know

Business news

22 August 2026 – Canada–United States relations
The United States imposes 50% tariffs on about US$20 billion of Canadian goods after trade talks fail to produce an agreement. Canadian prime minister Mark Carney says Canada will impose equivalent retaliatory tariffs. (AFP via Daily Tribune)
19 August 2026 – Economy of the United States
The United States Department of the Treasury reports that the national debt surpassed $40 trillion for the first time the previous day, and is currently at $40.047 trillion. (Reuters) (CNBC) (AP)
10 August 2026 – Murder of Mir Raza Ali
The government of Sindh, Pakistan, announces that a judicial commission headed by a judge of the Sindh High Court would investigate businessman Mir Raza Ali's death. The decision followed a recommendation by the Sindh Assembly. (Dawn)

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