A company is also a firm or a business. While it is producing goods or trading, it is said to be in business. A firm which is just starting up is going into business and a company which stops operating goes out of business. If a company gets bigger, it expands. The expansion of a firm means it can produce more goods or sell more of its products.

A manufacturer or a manufacturing company produces goods. The goods it makes are its products. When a manufacturing company expands, it usually increases production. If one year it produces 100 tonnes and the next year it produces 110 tonnes, it has increased production by 10%.

A company which sells goods in bulk is called a wholesale distributor or wholesaler. A company or person buying goods in bulk and selling them in small quantities is a retailer. Most local shops are retailers and sell goods retail.

Two or more companies which sell or manufacture the same product are competitors or rivals. They are in competition and they compete for customers. In order to sell more goods than its rivals, a company must be competitive. It is important to keep ahead of the competitors by selling at competitive prices. If one company has an advantage over its competitors, for example, a cheaper or better product, it gives them an edge on the market.