Business day
Encyclopedia
A business day is considered every official working day of the week. Another common term is working day. Typically, these are the days between and including Monday to Friday and do not include public holidays and weekends.
The definition of a business day varies by region. It depends on the local workweek
which is dictated by local customs, religions, and business operations. For example, in Saudi Arabia
, business days are usually Saturday to Wednesday, whereas in the United States
and much of the Western world
, they are typically Monday to Friday , In Egypt although it is from Sunday to Thursday .
Business days are commonly used by shipping companies when determining the arrival date of a package. If a firm such as FedEx
ships a parcel on a Thursday that will be delivered in "two business days", it will therefore arrive on a Monday assuming that both Friday and Monday are not holidays.
In finance, how business days are defined are called "business day conventions" and determine how payments are settled on contracts such as interest rate swaps.
as a more easily globalized and offshored
workforce. The notion of a business day has come under a certain degree of challenge. Information-based companies with a limited dependence on physical goods have less of a need to distinguish a weekend day from a weekday and indeed to many, there is no difference at all. These companies, quite validly, construe a business day to be any day on which they provide service.
Some businesses conduct business transactions and operations on a 24 hour basis due to the nature of the field. Such businesses include hotel
s, hospital
s, police
and fire
departments, and airport
s.
The definition of a business day varies by region. It depends on the local workweek
Workweek
The workweek and weekend are those complementary parts of the week devoted to labour and rest respectively. The legal working week , or workweek , is the part of the seven-day week devoted to labor. In most Western countries it is Monday to Friday. The weekend comprises the two traditionally...
which is dictated by local customs, religions, and business operations. For example, in Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
, business days are usually Saturday to Wednesday, whereas in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and much of the Western world
Western world
The Western world, also known as the West and the Occident , is a term referring to the countries of Western Europe , the countries of the Americas, as well all countries of Northern and Central Europe, Australia and New Zealand...
, they are typically Monday to Friday , In Egypt although it is from Sunday to Thursday .
Business days are commonly used by shipping companies when determining the arrival date of a package. If a firm such as FedEx
FedEx
FedEx Corporation , originally known as FDX Corporation, is a logistics services company, based in the United States with headquarters in Memphis, Tennessee...
ships a parcel on a Thursday that will be delivered in "two business days", it will therefore arrive on a Monday assuming that both Friday and Monday are not holidays.
In finance, how business days are defined are called "business day conventions" and determine how payments are settled on contracts such as interest rate swaps.
Shifts and trends
The introduction of flex time introduces the internetInternet
The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...
as a more easily globalized and offshored
Offshoring
Offshoring describes the relocation by a company of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Even state governments employ offshoring...
workforce. The notion of a business day has come under a certain degree of challenge. Information-based companies with a limited dependence on physical goods have less of a need to distinguish a weekend day from a weekday and indeed to many, there is no difference at all. These companies, quite validly, construe a business day to be any day on which they provide service.
Some businesses conduct business transactions and operations on a 24 hour basis due to the nature of the field. Such businesses include hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
s, hospital
Hospital
A hospital is a health care institution providing patient treatment by specialized staff and equipment. Hospitals often, but not always, provide for inpatient care or longer-term patient stays....
s, police
Police
The police is a personification of the state designated to put in practice the enforced law, protect property and reduce civil disorder in civilian matters. Their powers include the legitimized use of force...
and fire
Fire department
A fire department or fire brigade is a public or private organization that provides fire protection for a certain jurisdiction, which typically is a municipality, county, or fire protection district...
departments, and airport
Airport
An airport is a location where aircraft such as fixed-wing aircraft, helicopters, and blimps take off and land. Aircraft may be stored or maintained at an airport...
s.