Human beings are the most complex living organisms evolved over time by a series of adaptations to the changing environment. This modern era on earth is ruled by humans as they encompass every aspect of life. Business is no exception. In Hindu mythology, it is believed that human birth is the means to attain liberation from the cycle of birth and death. Spirituality is about leading a life of purity by renouncing the evils of greed, anger, lust and envy. A spiritual bent of mind allows a person to sail smoothly and succeed in every aspect of life and also extends a free environment to the companions for expressing and exploring themselves fully, without any external thrust. In the Kali Yuga now, all the crimes and negativities are on a rise, this is because humans have forgotten their true self and indulged themselves into materialism. In business arena too, if we look closely, all the negativities such as- financial crisis, non-implementation of laws, lack of corporate governance etc. emerge from the common vice- immorality. This calls for a spiritual “initiation” to business. This paper aims at studying the very basics of spirituality and its impact on individuals as well as businesses. This study is important as businesses operate in a social and natural environment hence their inter-relation needs to be understood. This paper also discusses about some possible methods to implement spirituality (ethics) and its concerns.