Business vs Profession vs Employment
Important Differences
Sno. | Business | Profession | Employment |
---|---|---|---|
1. Definition | It refers to those economic activities which are connected with purchase, production and/or sale of goods and services with an objective of earning profits. | It includes those economic activities that require special knowledge or skills in the occupation. | It refers to the occupation in which people work for others get remuneration in return. |
2. Examples | Fishing, Mining, Production and selling of electronic goods | Medical Doctor, Lawer (Legal), Accountant | Worker, Salesman, Employee |
3. Mode of Establishment | Starts after completing some legal formalities needed. | Membership of a professional body and certificate/license to practice required. | Start after getting appointment (formal or informal) |