Difference Between Business, Profession and Employment

 Difference Between Business, Profession and Employment

Business: Business is where goods and services are purchased and sell or exchange of other purpose for money.

Profession: Profession is required a person needs some kind of skill and knowledge in a subject or occupation and have Certificate on that subject from authorized place is called profession.

Employment: Peoples those, who works in their organizations like bank, insurance companies in departments as a manager, clerks, assistants, peons, security guards and others employees in the organization.

Difference Between Business, Profession and Employment in Table Form

Basic	Business	Profession	Employment
Mode of establishment	Entrepreneur’s Decision and other legal formalities if required	Should be membership of personal body and practice certificate	Service agreement and appointment letter
Qualification	No minimum Required	Required	Required training according to employer work
Risk	Profits are Uncertain and risk is high	Regular fees and low risk	Fixed and regular pay and no risk
Nature of work	Provision of goods and services to the public	Rendering of personalized expert services	Performing work depend on Contract rules of service
Capital investment	Depend on size and nature of Business	Need limited Capital	No Required
Reward or return	Earned Profit	Fees	Salary and wages
Transfer of interest	Transfer with some Formalities	Not Possible	Not possible
Code of conduct	No Code of Conduct	Professionals Followed	Followed by Norms of Behavior laid down by the employer