There are many advantages of business: Business provides platform of earning people can earn their livelihood by doing business. Business can be of small scale and can be of large scale. It depends upon the owner ability. Owner can run it with its own capability. Owner of business can take its own decision in business matters. Business increase living standards of peoples.
Business can be of many kinds. A person can start its own business by making investment. Non experience person can also start business. It provides employment opportunities to people. It helps the country in increasing national income and per capital income.
It gives the chance to earn large profit. Business increase the competition and quality of products also increase. It helps the people to buy things of their own scale. Business economies the scale of products because of competition.
It gives opportunities to the people to show their own capabilities by starting a business. Part time business can also be started. It increases income of the people.
Business types are Sole proprietorship and Joint Stock Company. All of them have its own features and reasons. Business can be of any type with the choice of owner. It helps in increase of production.