Business removes knots for districts (8)

I believe the answer is:

counties

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'districts' is the definition.
(county is a kind of district)

'business removes knots' is the wordplay.
'business' becomes 'co' (short for company).
'removes knots' becomes 'unties' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'co'+'unties'='COUNTIES'

'for' acts as a link.

Can you help me to learn more?

(Other definitions for counties that I've seen before include "Administrative divisions" , "administrative areas" .)

I've seen this clue in the Sydney Morning Herald.

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