What Is the Primary Purpose of Business?

By Staff WriterLast Updated Mar 28, 2020 6:00:06 AM ET
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The primary purpose of business is to make money. A business may sell a product or provide a service in its effort to make money for its owner or owners.

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A business may take several forms: a sole proprietorship operated by a single person, a partnership owned by two or more individuals or companies, or a corporation owned by thousands or even millions of shareholders. No matter the organizational structure, profit is the ultimate goal in business. Non-profit businesses are not technically in business to turn a profit, although they attach monetary value to their desired outcome and use this when measuring their success.