Business, from a definitive standpoint, is the purchase and sale of goods and/or services. It is often defined as an organization that provides goods and services to those who want or need those goods or services.
Structures of a business vary. A business can be large or small, service or product oriented. A man mowing lawns for a living has a business, as does the women who owns a restaurant or the partners who own a large advertising agency with hundreds of employees. A business can have hundreds of employees, be a one man show, or a small company run with the help of a website, a domain name and web hosting.
Business involves selling something, be it a tangible item such as clothing, or intangible services such as expert advice, to people who want it. To be profitable a business must have a product and a market for the product.
Business related services, such as business consulting and management training can also be the actual practice of one’s business.