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Business In economics, a business (also called firm or enterprise) is a legally recognized organizational entity designed to provide goods and/or services to consumers or corporate entities such as governments, charities or other businesses. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit to increase the wealth of owners. The owners and operators of a business have as one of their main objectives, the receipt or generation of a financial return in exchange for work and acceptance of risk. In order to be our own bosses and earn passive income, we usually require a lot of effort to set up the businesses. To achieve passiveness, we got to reduce the work and risk to the minimum and only put in little/no effort to maintain them. What is passive business? Passive business is earning from a business that does not require direct involvement from the owner. In this way, we can have more time to do other things like, investment, family time, etc. Stay on.

Contributed by weiyiuora on April 29, 2008, at 7:52 AM UTC.

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