Terms
What is Entrepreneurship
Taking an active financial risk to set up a business
A business that is owned by two or more people
Partnership
What is a Budget
an estimate of income and expenditure for a set period of time
An amount of money that a person gains when they are paid more for something than it cost them to make it
Profit
What is a Revenue
the total amount of money generated by a company's operations, measured over a set amount of time
What are Employability Skills
The transferable skills a person needs to be employable
A company or business of selling and promoting products
Marketing
What is Entrepreneur
someone who starts their own business
the assistance that is given to customers during and after work
Service
What is Wholesalers
a company or person that sell items to retail stores who will then sell them to individual customers for a higher price
What is a Business Pitch
is a quick description of your business that you use to explain it to customers and investors
is an overview of your business goals and includes details on how you think you are going to achieve them
Business Plan
What is Employability skills
skills needed by a person to be effective in any job
the state where a person or business is being bankrupt
Bankruptcy
What is Manufactures
a large number of goods produced usually in a factory
What is Liabilities
something that a company or business owes
is when a business's expenses and sales equal zero because the business has sold exactly enough units to cover its fixed expenses
Break-Even-Point
What is a Sole Proprietorship
a business that is owned and managed by one individual
Companies or business that is offering the same products or services to customers
Direct Competitor
What is a Indirect Competitor
a company or business that sells a different products or services, but still provides the same customer's needs or wants
What is Assets
money and other valuables things that belong to an individual, business, or company
operating expenses that business must pay regarding of how many sales are made
Fixed Operating Expenses
What is Corporation
a company that is owned by multiple stockholders and is authorized to act as a single entity
What an entrepreneur needs to pay for all the required expenses when creating a new business
Start-Up Capital
What is Retailers
a business owner or merchant that buys and gather products or services to sell them to the public