Every now and then we need to think of something that will benefit all of us. It’s only a matter of being a sensitive type of person to feel the need of something. Baco Enterprises has always served and still continuing the started service to people, companies, state or country in order to give them what they need. Engineers and other mechanics trust them. Though they may have simple layout, their services are not. They are very eager to give the kind of facilities or deal they give comes from what customers deserve to have. As the producers, they can create what consumers or customers need and like. For more of Baco Ent, visit them and you’ll see it yourself.

1.  Commerce

–     Latin name of “commercium, is a combination of two root words; com means together and mercies mean wares.

–     Commerce defines as an exchange of wares, goods, or merchandise

–     This is primarily concerned with trading for profit

–     Commerce have two subcategories, retail trading and wholesale trading

Retail Trading

Retailer does not keep large stock of goods for he usually has not enough capital to buy in bulk.

Wholesale Trading

While retailer buys small stocks of goods, the wholesaler usually buys large stocks of goods or bulk purchase from the producer. In return for its bulk purchase, a producer gives discounts to wholesalers.

Retailers and wholesalers are coexistent. Wholesalers buy from the producer, and sell and distribute to retailers while retailers, who are not directly purchasing from a producer, buys goods from producers.  Again, this is not always the case, capital should still be considered, a retailer with higher capital can become wholesalers which is directly purchasing goods from the producers.

2. Industry

–    Considered as the producers, manufacturers

–    They make products from raw materials and convert them to something useful and is needed by consumers and then distributes them through commerce naming, the retailers and the wholesalers.

–     An economic activity that produces:

a. consumer goods

– intended for use by final consumers.

b. industrial goods

– for use by other industries.

–     Industry is dependent yet interdependent to other industries. This is because some factors of production are only made available through other industries which become a supplier for them.

3. Business Services

–     This category specializes in rendering useful services. i.e. insurance, banks, telephone, amusement houses.

–     Business services rely mostly, but not solely on the expertise of workers. They usually train them which results in the specialization to their particular field to help them offer a quality service.

Philippine economy is said to be growing fast due to visible economic progress that can bee seen through growing number business enterprises. But in return, to increase more the output, relying on goals and visions and factors such as skills, talent, man power and such things alike, it is true that one cannot stand without capital, so thereby it is an essential aspect on starting a business or continuing a business.

“Business enterprise is people” it is clearly defined that a business directly affects, or even rules, the everyday life of the people. Business contributes to la larger impact to people itself. People learn and adapt though experience from business or in business, their lives change as well as the economy. People run the business then drive the economy as what should be the outcome is. Business makes opportunities both for an entrepreneur and the workers. i.e. profit and employment.

A business is defined as any lawful economic activity which is concerned with making goods available as well as rendering of useful services to those who want and need them. Businesses are all around us and making our lives conform to the higher standard in our society.

There are many kinds of business, in fact too many to name. So many that it is broken down to 3 categories. These are Commerce, Industry and Services.

Purpose and Aim of Business

Making a profit is the primary goal of a business. In fact profit makes business grow and develop with it. Without profit, a business should not be called a business.