Most ancient civilizations had developed and utilized the notion of business on an abstract level, probably based on the principles of barter. The advent of money during ancient times further facilitated trade amongst various different cultures. Evidence indicates that trade took place between the Phoenicians, the Greeks, the Romans, the Egyptians, the Indian subcontinent, as well as other parts of Asia. Ancient empires that were able to control the major trade routes were the ones that ascended rapidly into dominance, occupying foreign land, and building up their wealth.
Today, the foundational principles of business used millennia ago, remain unchanged. For instance, the concepts of supply and demand, still very much apply to all business transactions in the modern economy, although greatly refined by the concepts of economics and finance.