Ch 11
Ch 11
Ch 11
Ch 11
Ch 11

100

Competition

Rivalry among business that seek to satisfy a market

100

Goodwill

The monetary value attached to the reputation of a particular business

100

Franchise

Involves buying the rights from another business to distribute its products under its name

100

Franchisor

An Individual or business that grants a franchise

100

Franchisee

An individual or business that purchases a franchise

200

Market Analysis

Involves collecting, collecting, summarizing and analyzing information about the state of the market, customers, the threats and opportunities that the market presents, and any advantages or disadvantages that the business is likely to have over its competitors.

200

Zoning

A means by which local councils allocate land for different uses, such as residential, commercial, recreational and industrial.

200

Debt finance

Relates to the short-term and long-term borrowing from external sources by a business.

200

Overdraft

The bank allows a business to overdraw their account up to an agreed limit for a specified time, to overcome a temporary cash shortfall.

200

Mortgage

A loan secured on some type of asset.

300

Equity finance

The funds contributed by the business owner(s) to start and then expand the business.

300

Interest

The cost of borrowing money.

300

The Competition and Consumer Act 2010 (Cwlth)

What is the law that protects both consumers and businesses. It protects consumers from deceptive or misleading practices, and it regulates the trade practices of businesses.

300

On-Costs

What is Payments for non-wage benefits.

300

Superannuation

What is a scheme set up by the federal government. It requires all employers to make a financial contribution to a fund that employees can access when they leave or retire from a job. The percentage an employer must contribute will increase gradually to 12% by 2023

400

Taxation

What is a compulsory payment of a proportion of earnings to he government.

400

Goods and Services Tax (GST)

What is a broad-based tax of 10% on the supply of most goods and services consumed in Australia.

400

Input Tax Credit

What is an allowable tax deduction that a business can claim for any GST included in the price of business inputs.

400

Business Activity Statement (BAS)

What is records of a business's claim for input tax credits and accounts for GST payable.

400

Australian Business Number (ABN)

What is a single identifying number that a business uses when dealing with government departments and agencies.