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A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
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A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers. Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange of other goods, services, or money .
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Portal:Business/Did you know/11 ... that Italy is the third largest producer of wine in the world? ...that Calouste Gulbenkian was known as Mr. Five Percent because he retained 5% of the shares of Royal Dutch/Shell , the second-largest corporation in the world by revenue, which he participated in the formation of in 1907?