Business is defined as an organized effort of individuals to produce and sell goods and servcies in order to satisfy the needs of society.The primary objective of business id to acquire profit. The individual who takes the risks in organizing and operating a business s the entrepreneur.

There are two kinds of small business. The very small business where the owner is the principal worker, and he employes one or more assistants. This is the micro business. The other one is the bigger small business where the owne manily directs the work of the employees. Small business it is privately owned and it has few or no layers or management. Generally it has insufficient resources to dominate its field of business.