Business and Finance are two very different parts of business but the two compliment each other. When you say business, this refers to the advertising and the marketing part of the business, and when you say finance, this refers to the allotted budget of the business and the funds that you will be using to put up your business. So as you can see, the two go hand in hand without the other, the business that you will be putting up will not work without the two of these working hand in hand.
When you say business, it could mean a lot of things, that is why the scope of a business will mean a generalized term for something you put up or a word that could mean the strategies that you want to do, and as for finance this will mean a lot of things also aside from the budget, it could also mean the study of money.So, lets break it both into two separate definitions, and define each:
What is finance?
As mentioned above, the word finance is already a broad term in itself and can describe two related activities. One – it can be a subject in school that is related to money management, and two – it can refer to the actual need for money.
With that being said, any business will need this in order to stay a float. If you are looking to open your own restaurant one day, money will always be a basic need.
What is business?
Now we go to the word “business”, this is another broad term used to describe a person’s occupation, a private owned business, an investment or a profit. Like that of finance, you cannot earn money without a source of income.
So if you really look into both areas, you will see that it goes hand in hand with one another and one will not function properly with out the other.
Benefits of finance
If we were to use finance in a business sense, financial funds will always be a huge benefit to any business owner. The more money you have the better chances that you can expand you business in larger quantities. For example you have a restaurant, and you only have one branch, if you have enough money, you can always invest on another branch but in a different location.
As most people say, money will make you very powerful, and can let you live the life that you deserve, as long as you have saved enough money and you have earned it, then you can start living your life the way that you choose to live it.
Benefits of Business
As for private owned business, it is always better to have more than just one, if you can afford it. When you own a business, there is no limit to how many you can have, actually the more business you have around your area, the more chances of earning more than you need. If you are business minded person, you will understand the need for financing to help build the rest of the businesses you want to put up.