Meaning of the word "Generate income" in English

What does "Generate income" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

Generate income

US /ˈdʒɛn.ə.reɪt ˈɪn.kʌm/
UK /ˈdʒɛn.ə.reɪt ˈɪn.kʌm/

Phrase

to earn money or create revenue

Example:
Starting a small business is a great way to generate income.
The new investment is expected to generate income for the company.