Company:
A company is collection of individuals which may be natural persons or legal persons. There are various types of company and they are: private company, personal liability company, public company, non-profit company and state owned company. As it is the legal person, the death or an insolvency of the partner does not affect the organization activities.
Business:
A business is an organization which is involved in the exchange of goods or services in order to earn profit. The types of business are: sole proprietorship, partnership, corporation and cooperative.
Differences:
| Basis | Company | Business |
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| Definition (www.oxforddictionaries.com) |
A commercial business. | A person’s regular occupation, profession or trade. |
| Objectives/Purpose | The purpose of the company is to maximize the shareholder’s value. | The purpose of a business is to offer value (through products and/or services) to customers who pay for the value with cash or equivalents. |
| Synonyms | Association, team, club, group, and party | Field, work, employment and trade |
| Antonyms | Individual | Pastime, fun and entertainment |
| Pronunciation |
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| Types | Its types are:
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Its types are:
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| Word origin | The word company was originated in the 13th company from Middle English companie. | The word business was originated in the 14th century from Middle English bisynesse. |
| Main function | The main functions of business are:
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| Taxes | In a company, it is the company that pays the taxes, not the owner. | In a business, you as the owner have to pay taxes. |
| Advantages/Benefits | The advantages of company are:
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| Disadvantages | The disadvantages of company are:
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