This business plan report summarise the nature of our business, the advertising and sales strategy, the monetary background, projected cash flow and income statement. 2 The Nature of Business ... For example, in the United States, we can buy an Extra Value Meal at McDonald’s for less than $5, while in another country, a similar meal might cost as much as $10. The nature of business is what kind of business are you doing in your job. A service type of business provides intangible products (products with no physical form). The nature of business refers to the overall activities of a company in their quest to create, market, and sell a service or a product. Modern business is creative and dynamic in nature. Businesses play a key role in determining our quality of life by … Business firm has to come out with creative ideas, approaches and concepts for production and distribution of goods and services. The main objective of the business is to earn profits. It means to bring things in fresh, new and inventive way. When filling out a form, "nature of business" refers to the type or general category of business or commerce you are describing. For example you work in McDonalds so the nature of business is the food service. Business is whatever size or nature of activities that could generate profit or return on what they invested directly or indirectly. Essentially, the main focus for what a company does in a particular sector or industry is known as that company’s nature of business. Service type firms offer professional skills, expertise, advice, and other similar products.Examples of service businesses are: salons, repair shops, schools, banks, accounting firms, and law firms. Nevertheless it shows our current position and where we want to be in the future and how we … Hence, the business environment is related to the economic activities of the person (entrepreneur) like trade, commerce, industries, and direct services etc. Business is the trading activities from one person, a group of person, entity, and organization in which the purpose of those activities is for generating profit directly or indirectly. You see, there are basically three types of business nature – sole proprietorship, partnership, and companies. The types of business nature define what kinds of business there are.