Common Business Activities in the Community

i) Trade: Trade refers to the buying and selling of goods and services. Businesses engaged in trade act as intermediaries between producers and consumers. They purchase goods from manufacturers or wholesalers and sell them to retailers or directly to customers.
ii) Provision of services: Businesses that provide services offer intangible activities or performances to fulfill customer needs. Examples include beauty salons, healthcare providers, educational institutions, legal firms, and consulting agencies. Service businesses focus on delivering expertise, skills, knowledge, or assistance to customers.
iii) Distribution of goods: Distribution involves the transportation and delivery of goods from manufacturers or producers to retailers or end consumers. Businesses engaged in distribution act as intermediaries in the supply chain, ensuring that products reach their intended destinations efficiently. They may handle logistics, warehousing, inventory management, and transportation to facilitate the movement of goods.
iv) Manufacturing: Manufacturing involves the production of tangible goods from raw materials or components. Manufacturing businesses transform inputs into finished products through various processes, such as pressing, processing, assembly, fabrication, or refining. They typically operate in sectors like automotive, electronics, food processing, textile, and pharmaceuticals.
v) Construction: Construction businesses are involved in building or assembling structures, infrastructure, or facilities. They undertake activities such as architectural design, engineering, and physical construction of residential, commercial, or public projects. Construction companies may specialize in areas like residential housing, commercial buildings, roads, bridges, or utility systems.
vi) Extraction: Extraction businesses are involved in extracting natural resources from the earth, such as mining companies extracting building materials such as stones, minerals such as salts, diamond, oil and gas companies extracting fossil fuels, or timber companies harvesting wood from forests. These businesses locate and extract valuable resources.
vii) Processing raw materials: Processing businesses transform raw materials or semi-finished goods into usable or finished products. They undertake activities like refining, manufacturing components, or converting raw materials into a more valuable form. Examples include steel mills converting iron ore into steel, food processing companies transforming agricultural produce into packaged food items, or textile mills converting raw fibers into fabrics.