Since the time of Roman empire, when the basis of modern financial principles were established, the dilemma of “work smart or hard” is still vital.
To address this phenomenon, let’s understand the definition of business and commerce. By definitions, a business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. At the same time, commerce is the conduct of trade among economic agents. Generally, commerce refers to the exchange of goods, services, or something of value, between businesses or entities.
Regardless of the type of organization, both categories lead to positive values generated by human activities, hence profit. Using numerous factors, such as skills and experience, market demand, personal preferences, and many other, we at FinFile24, help business operators to create a business model that fit their best interests, generates and greatest results. Business profitability is one of the major key performance indicators that give business owner a base for their decisions.