The word business refers to any entity or organization engaged in business that essentially deals with the procurement of raw materials, working capital, and profit. Businesses may be for profit organizations or non-profit enterprises. Regardless of the nature of the business, it seeks to generate income through production, sales, and service.In terms of legal structure, the term business includes corporations, partnerships, LLCs, and sole proprietorships. Business entities are established for various reasons, but one of the most important reasons is to create a standing credit line that will allow businesses to obtain credit at low interest rates. Many business plans also include the borrowing of funds from other investors. This borrowing is referred to as venture capital.Every state requ
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