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Business provides a lot of services to the human beings that highlight its significance. Businesses are a very important part of the circular flow of any market economy. Also it is hugely important in a country’s economy because it is the main economic engine for the country.
Business exists because the functioning of a robust economy is essential to the goal of allocating resources properly. Businesses are often key players in preventing economies from becoming stagnant or crashed. Business contributes to the social development also. Business growth increases national income, which contributes to social development. Factors within a business environment typically includes suppliers and clients, technology improvements, government activities, economic trends, owners and competition, laws, social trends and market trends. Planning is very important in Successful Business: