The Importance of Business 2

A continuation from my last article 😊

first three points were explained in the preceding discussion. The point that business is time-consuming is not an overstatement. You can infer this from the fact that the business person is a busy person. His (her) engagement requires the time he spends on the business as may be required. The entrepreneur has to be painstaking in pursuing every phase of his or her endeavour. The time committed to the job depends
on the nature of the business. Some businesses may not demand more than a few hours to get done. A person who takes delivery of a consignment of goods and luckily receives a supply call from a credit worthy customer needs a few hours to remit the order, barring distance, and get paid for the job. This short cycle reverses if the person has to produce the goods before sale. Depending on the type of good and the technology used, the time demanded in the production could be long. It may take months or even years. Airplane and ship, for example, are two goods which production takes years to get done. Business is the bedrock of national economies. From macroeconomic point of view, the composition of a country's business determines the size of her gross domestic product (GDP). Added to international business flows, the economy of the country enlarges giving rise to gross national product (GNP). To sustain the GNP, the country creates a friendly environment that enhances business growth and attracts foreign investment. Many things determine this type of environment. Good transport system is one factor. Uninterrupted power supply is another. Modem communication facilities, a working legal and regulatory machinery and purposeful political.