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Whats the definition of solo proprietorship?
One person running a business
What is a Entrepreneurship?
starting a business based on the needs of your target market or local area
What is a Entrepreneur?
someone who starts and runs a business
What is a business plan?
An overview of your business goal and includes details on how you think you are going to achieve them
What is a budget?
A budget is an estimate of income and expenditure for a set period of time.
What are the four P's of marketing?
Product, Price, Place, Promotion
Whats a indirect competitor?
A business that sells a different product or service from yours, but fills the same customer need or want.
What is a business pitch?
Like a business card, a short description of your business to interest your customers and investors
What are Employability skills?
Skills needed to be effective in any job market and workplace
Whats a the definition of Wholesalers?
Sells product in larger volumes(But less than the manufacturer) to the retailer
What is Start up capital?
The finances required by a new business to pay for essential fixed and current assets before it can open for business.
What is Break even point?
Even Point-is when a business expenses and sales equal zero because the business has sold exactly enough units to cover its fixed expenses
What is profit
profit is money you earned from your business
What is marketing?
is the art of presenting a business in a way that clearly communicates the value of the product or service
What is a Corporation?
A business figure that is owned by multiple stockholders and operates as a separate legal entity
What is working capital?
the difference between a company's current assets (cash), accounts receivable (customers' unpaid bills), inventories of raw materials /finished goods, and its current liabilities (costs)