Portal:Business

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The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. This chart is from 2017 statistics.

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The

taxation system
for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of

public policies that have impact on these elements. (Full article...
)

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Bank of China (Hong Kong) Limited (BOCHK, 中國銀行(香港)有限公司) is the second-largest

HK$
763 billion in assets and earned net profit of HK$8 billion in 2003.

BOCHK is one of the three banks which issue

Bank of China Tower, with its parent; completed in 1988, this was the first building outside of North America
to exceed 1,000 feet (300 m).

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Selected economy

financial center
of Saudi Arabia

The economy of Saudi Arabia is the largest in the Middle East and the eighteenth-largest in the world. The Saudi economy is highly reliant on its petroleum sector. Oil accounts on average in recent years for approximately 40% of Saudi GDP and 75% of fiscal revenue, with substantial fluctuations depending on oil prices each year.

The kingdom has

natural gas reserves. Saudi Arabia is currently the largest exporter of petroleum in the world. Other major parts of the economy include refining and chemical manufacturing from the oil reserves, much of which is vertically integrated in the state-owned enterprise, Saudi Aramco. Saudi Arabia is permanent and founding member of OPEC

In 2016, the Saudi government launched its Saudi Vision 2030 program to reduce its dependency on oil and diversify its economic resources. By 2022, Saudi Arabia had only modestly reduced its dependence on oil. (Full article...)

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"The

process chart
is a record of present conditions. It presents, in simple, easily understood, compact form, data which must be collected and examined before any improvement in existing conditions and methods is undertaken. Even if existing conditions are apparently satisfactory, the chart is useful as presenting much information in condensed form.

The process chart serves as an indicator of profitable changes. It assists in preventing "inventing downward," and stimulates invention that is cumulative and of permanent value. It is not only the first step in visualizing the one best way to do work, but is useful in every stage of deriving it.

This paper presents established working data used successfully in numerous installations for many years."

Lillian Gilbreth
, Process Charts, 1921
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  • Supply Chain Management

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On this day in business history

April 18:

General images

The following are images from various business-related articles on Wikipedia.

More did you know

  • ...that
    double-entry bookkeeping system
    in his mathematics textbook Summa de arithmetica, geometria, proportioni et proportionalità published in Venice in 1494?
  • ...that, as of August 2008, more than 113 countries around the world, including all of Europe, required or permitted IFRS reporting and 85 required
    IFRS
    reporting for all domestic, listed companies?
  • ...that
    Notes to the Financial Statements
    ?
  • ...that in the
    circular flow model
    , the inter-dependent entities of producer and consumer are referred to as "firms" and "households" respectively and provide each other with factors in order to facilitate the flow of income?
  • ...that
    input-output model
    ?
  • ...that the balance of payments of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period?

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