the noun form of 'running' describes an act of continuous motion, usually used to refer to an activity that implies traveling on foot. In this sense, 'running' acts as either a gerund or an otherwise uncountable noun.
1. I'm going for a running later this evening.
2. The running stars should be on the lookout for obstacles in the race.
3. Her running skills have improved drastically since last year.
the verb form of 'running' describes the action of moving on foot in a rapid, swift manner, usually over a short distance. It can also be used to describe the action of an object or entity which is in motion over a longer period of time. In either usage, the verb is rendered in the present participle form, 'running.'
1. The dog is running around the yard.
2. We are running late for the meeting.
3. The river is running along the bank.
additionally, the verb form of 'running' is not usually used in the sense of 'operating a business' in this particular form; to describe this particular action, 'run' is more appropriate.