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What are the three reasons why profit is important to a business?

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The three reasons that why profit is important to a business.

The profit to a business is the money you have left after paying for business expenses. There are three main types of profit are gross profit, operating and net profit. Gross profit is biggest. It shows what money was left after paying for the goods and services sold.

The three reasons of profit to a business are -

1. They provide a measure of success of a business which is important for new businesses.

2. They are the best source of finance/capital to invest in expanding the business.

3. They attract further new funds from investors enticed by the possibility of high returns on their investment.

To know more about profit here,

https://brainly.com/question/15699405

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