Say it like this

Somebody fixing a problem for somebody else, who says thank you with money.

For the grown-up

A business creates something a customer values more than the money they hand over, at a cost lower than that price. The gap is what keeps it alive. The problem-first definition is the one worth giving first, because it is the one a child can immediately test against every shop they walk past.

The easy mistake

Careful here. A business is not a building. Plenty of them have no building at all, and a child who defines business by premises will struggle with most of the modern economy.

The full explanation

What Is a Business?

A glossary entry is the short version. This one has the child explanation, the grown-up explanation, the questions and an activity.

Read it

Words next to this one

Customer The person with the problem. Without one of these, there is no business, only a hobby. Price How much money somebody is asking for a thing. Not the same as what it is worth to you. Profit What is left over after you pay for everything it took to make the thing. Entrepreneur Someone who notices a problem and decides to be the one who fixes it. Value How much something is worth to you. It can be different for two people looking at the same thing.