Difference between Business ans Profession

What are the difference between business and profession?

The followings are some of the differences between profession and business.

Business:

• It involves an activity relating to purchase and sale of goods with an objective of earning profit.
• It does not necessitate specialized study of knowledge.
• The primary objective of the business is maximization of profit.
• It involves huge amount of capital.
• The entire process of business involves risks.

Profession:

• It involves rendering of specialized services for a reward called a fee.
• Profession necessitates specialized study, training and knowledge.
• It involves element of service in exchange of an economic reward.
• It involves less amount of capital.
• Though risk is there in profession, it is negligible.