Types of Businesses
A business owned by two or more people
Partnership
Where are some place where you can get funding from for a business?
personal funds, loans, crowdfunding, investors, government programs, friends and family.
What is the last step in interpreting financial data?
draw conclusions
Borrow up to a set amount of money and pay the bank back at your own pace (with interest).
Credit cards
What does FBLA stand for?
Future Business Leaders of America
An organization that is meant to benefit a community or clause.
Non-profit Corporation
Small business owners should have _____ ______ to protect them from claims of property damage or bodily injury.
liability insurance
What ratio calculates the ability to pay off debt
solvency
The process of identifying, assessing, and controlling threats to a company's financial security.
Risk Management
How much can you win in Paradigm Challenge?
$100,000
A company where liability doesn't belong to investors, there are better tax situations, and it is easier to restructure. However, it can be harder to raise capital or make profit.
LLC (limited liability company)
Liability defined by shareholders being only responsible for the amount of money they have invested in the company. Their personal debts are protected from business debts.
Limited liability
Income statement
Type of loan that you can use with specific checks from the bank.
revolving credit check
What is Ayush's last name?
Pareek
A business where there is limited pressure for results and profit.
Private Corporation
How much of a business' budget is typically used on payroll?
25%-50%
Summary of Sales and Receipts
When businesses do not operate according to their business model and plan and its strategy becomes less effective over time.
What was our first lecture on?
Marketing
Gives equal rights to member to make decisions
Cooperative
Business protections
insurace, lawyers, physical security, agreements.
What is something that is used to calculate viability?
Market research, market demand, target audience, cash flow, profitability.
HSBC (bank), faced a high degree of operational risk, and received a large fine from US Dep. of Justice when their anti-money laundering team failed to prevent money laundering in Mexico.
What is this an example of?
Operational risk
What is an emerging problem in business law?
Cybersecurity; environmental law; employment trends