Business is the activity of making a living or making money by producing, buying and selling goods and services.
Simply put, it is an activity or business that is conducted for the purpose of making a profit.
This does not imply that they are a corporation, corporation, partnership, or formal organization, and can range from a street vendor to General Motors.
This term is also often used colloquially by non-lawyers and business people, but this article does not address its meaning.