Compare business with profession
Compare business with profession
Difference between Business and Profession :
\(\begin{array}{|l|l|l|l|} \hline
\text{1.} & \text{Mode of establishment} & \text{Entrepreneur's decisions and other } & \text{Membership of a professional body}\\
& & \text{legal formalities, if necessary.} & \text{and certificate of practice}\\
\hline
\text{2.} & \text{Nature of work} & \text{Provision of goods and services to} & \text{Rendering of personalised services to }\\
&& \text{consumers.} & \text{clients.}\\
\hline
\text{3.} & \text{Qualification} & \text{No minimum qualification is necessary.} & \text{Expertise and training in a specific}\\
&&&\text{field is a must.}\\
\hline
\text{4.} & \text{Reward or return} & \text{Profit earned} & \text{Professional fee.}\\
\hline
\text{5.} & \text{Capital investment} & \text{Capital investment required as per size} & \text{Limited capital needed for establishment}\\
&& \text{and nature of business} & \\
\hline
\text{6.} & \text{Risk} &\text{Profits are uncertain and irregular, risk} & \text{Fee is generally a regular and certain risk}\\
&& \text{is present} &\\
\hline
\end{array}\)
Difference between Business and Profession :
\(\begin{array}{|l|l|l|l|} \hline
\text{1.} & \text{Mode of establishment} & \text{Entrepreneur's decisions and other } & \text{Membership of a professional body}\\
& & \text{legal formalities, if necessary.} & \text{and certificate of practice}\\
\hline
\text{2.} & \text{Nature of work} & \text{Provision of goods and services to} & \text{Rendering of personalised services to }\\
&& \text{consumers.} & \text{clients.}\\
\hline
\text{3.} & \text{Qualification} & \text{No minimum qualification is necessary.} & \text{Expertise and training in a specific}\\
&&&\text{field is a must.}\\
\hline
\text{4.} & \text{Reward or return} & \text{Profit earned} & \text{Professional fee.}\\
\hline
\text{5.} & \text{Capital investment} & \text{Capital investment required as per size} & \text{Limited capital needed for establishment}\\
&& \text{and nature of business} & \\
\hline
\text{6.} & \text{Risk} &\text{Profits are uncertain and irregular, risk} & \text{Fee is generally a regular and certain risk}\\
&& \text{is present} &\\
\hline
\end{array}\)
