Types of Organizations
This type of business is owned and controlled by just one person.
Sole trader
What we call it when an entrepreneur sets up a completely new business?
Start-up
Money borrowed from a bank to start or help a company.
Business loan
The person or organization that you work for.
Employer
The majority of new businesses end up as...
Failures
A business where two or more people own and manage the company together.
Partnership
When two separate companies agree to become one single company.
Merger
The written strategy for a company that helps them get funding.
Business plan
A person who works for a company
Employee
An established business is better than a start-up because...
It is safer and already profitable
A large company where anyone can buy or sell shares on the stock market.
Public limited company
This happens when an entrepreneur or a company buys another company.
Acquisition (or Takeover)
The percentage that banks charge you for borrowing money.
Interest rate
People you work with
Colleagues or co-workers
What a new business must build from nothing, whereas an existing business already has one.
Customer base
An organization that focuses on youth development rather than profit.
Non-profit organization
When a company is bought by its own staff or management.
Buyout
Professional investors who provide money and know-how to start-up companies.
Venture capitalists
A person who owns at least one share in a company.
Shareholder
This specialist is needed to read and write contracts and obtain official paperwork.
Corporate lawyer
A business arrangement where a person pays to use a famous brand name.
Franchise
The word used to describe a fundamental change in business strategy when a start-up isn't working.
Pivot
The profit earned compared to the amount of money used to buy something.
Return on investment(ROI)
Another term for CEO
Managing Director, Chief executive
A source of funding where the seller agrees to wait for payment over a period of 3 to 5 years.
Seller financing