Carrying on business is a legal term that is defined as engaging or being involved in a commercial activity. This can take on various forms depending on the type of business being conducted and the jurisdiction of the business. Generally, it is understood to mean engaging in activities that involve purchasing or selling goods or services, as well as earning a profit.
Carrying on business is more than simply running a store or making a sale. This term refers to the general act of engaging in a business, from the largest transnational corporation to the smallest sole proprietorship. It means engaging in activities that are meant to generate income and carry out the business entity’s purpose.
Examples of Carrying on Business
Examples of carrying on business can include anything from operating a retail store to manufacturing goods to providing services such as accounting or legal advice. It can also include importing and exporting goods, renting buildings or spaces, providing consulting services, or even selling digital products online.
Regardless of the type of business that is being conducted, if it includes engaging with customers in a manner that could result in the generation of income or the furtherance of a business’s purpose, then it is considered carrying on business.
Conclusion
Now that you have a better understanding of what carrying on business means, you can begin to look into the legal implications of exercising this right and determine if it’s right for your business. With a little research, you can ensure that your business is suitably positioned to carry out its engagement activities lawfully and without impediments.