Define: Business

UK Accounting Glossary

Definition: Business

Quick Summary of Business

A business is an organisation or economic system where goods and services are exchanged for one another or for money.

What is the dictionary definition of Business?

Dictionary Definition

  1. countable A specific commercial enterprise or establishment.
  2. countable A person’s occupation, work, or trade.
  3. uncountable Commercial, industrial, or professional activity.


Full Definition of Business

  • the activity of buying and selling goods and services
  • a particular company that buys and sells goods and services
  • work that you do to earn money
  • the amount of work done or the number of goods or services sold by a company or organisation
  • a situation or activity, often one that you are giving your opinion about
  • the things that you do or the matters that relate only to you

Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.

Businesses can be privately owned, not-for-profit or state-owned. An example of a corporate business is PepsiCo, while a mom-and-pop catering business is a private enterprise.


Examples of Business in a sentence

Business is booming.
I’m in London on¬†business.
I have a business appointment on Tuesday.
The business was growing so quickly it could barely keep up with all the orders coming in.
My partner is in the frozen food business.
Paulina left her job in finance in order to start her own daycare business because she believed it would allow her to spend more time with her own children.

Synonyms For Business

work, trade, working, employment, enterprise

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Business. Payroll & Accounting Heaven Ltd. February 19, 2020
Chicago Manual of Style (CMS):
Business. Payroll & Accounting Heaven Ltd. (accessed: February 19, 2020).
American Psychological Association (APA):
Business. Retrieved February 19, 2020, from website:

Definition Sources

Definitions for Business are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 14th January 2020.