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.
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- 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.