In definition, business is a way of making one’s living by selling services or products to consumers. However, in the practical world, it holds a lot more significance and utility than meets the eye.
In the economical construct of a country, businesses provide a pillar in development and growth. Any business irrespective of its financial magnitude provides the consumer with necessary goods and services in a day to day life all of which is taxable and consequently helps in the overall development of the country. The economy of a country cannot survive without the correct taxation and support of businesses.
Further, to aid the overall income in a specific region, small businesses require manpower in different layers of the business most of which are locals from the region. This not only helps to build co-dependence in the community but also actual income for the underprivileged and undereducated section of the society. It is also not very uncommon to find a competitive environment in regional businesses. To elaborate with an example, the bazaars and the local street markets are often very competitive to retain their daily customers or to get a new customer base. To achieve this they use many discounts and innovative schemes that ultimately work out both for the seller and the consumer.
The consumer base in a third-world country is often very financially limited and hence schemes or discounts like these are a lot more profitable to them than it seems. Even in first world countries businesses might not be as localized or competitive as in countries like India but nonetheless, they have their own schemes for seeking the attention of the customers. They have seasonal sales and end-of-season sales which basically is stock clearance from their side. However, the customers look at all of this as an overall profit and hence increase the overall economical transaction which is a win-win situation in every layer and pyramid of the business.
Every business small or big helps to provide varied products and services eventually helping to build the overall economy and define the financial constitution of a region or a country depending on the businesses’ magnitude. Not to overlook the fact that businesses trickle-down money from the higher level of the society to the lower levels and also provide jobs for people belonging to almost every sector of the society.
The tradition of doing business is very old in our land. From the age of Harappa, Vedic to british we grow our business tradition day by day. In the aftermath of globalization, trade and commerce in India began to grow further. So we always have a very prestigious background for doing business. We, Bengalis also have a tendency to do business. So in word we can say business is one of the main driving forces of society.
If we talk about businessmen, Dinesh Das is one of the greatest example how to balance multiple businesses. He is not from a businessman family. He saw the poverty from the nearest angle. Now we can see how the education, the development in his eyes.