ESB 1
Cost incurred by a business
Expense
An investor who provides funding to a business for a stake in the business in return and helps make business decisions.
Venture Capitalist
A tangible item a business owns
Asset
A business-to-business commercial transaction between businesses.
B2B
A business-to-consumer transaction.
B2C
The amount of money a business plans on spending during a given period
Budget
A document that addresses the concept, customers, and capital for a business
Business Plan
Business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation
S Corporation
Highest level in a company. This position makes the major decisions for the company
CEO
Oversees a company's finances
CFO
The amount of money charged for goods or services
Price
A tangible item
Product
A business that takes its name and characteristics from an existing business chain
Franchise
When an employee is paid for every item they complete.
Piece Pay/Work
Intangible skill that is performed
Service
What does ESB stand for?
Entrepreneurship and Small Business
The group of customers a company chooses to market its products and services to.
Target Market
A preliminary product, commonly a product with minimum viability, from which to test and develop
Prototype
The method of funding that uses the owners own savings
Bootstrapping
A corporation that is double taxed
C Corporation
individual or business that purchases goods or services from a businesses
Customer
A fixed amount of money paid to an employee for the work that they have done in a year.
individual who aspires to start and run a successful business
Entrepreneur
Non-cash compensations offered to employees in place of or in addition to a lower salary
Equity
Statistical data that refers to particular groups age, gender, race
Demographics