Vocab
Three types of business resources
Capital, Natural, Labour
Another business near, yours that does a similar thing is called this
Competitor
An owner of a business with full responsibility
Sole Trader
A model that sells to customers, such as a clothing store
Retail
Most common place for a business loan
Bank
A word meaning legally responsible
Liability
A name for a business model that refers to what buildings are made of
Bricks and Mortar
Not a structure on its own, but a set of branding and name for a business
Franchise
A model that used money paid from advertisers, used a lot by 'influencers'
Affiliate
Businesses pay this ontop of the money they borrow
Interest
The place you put a business
Location
This type of business might be run over the internet and not have a set Location
Online
This type of business structure is shortened to PTY LTD
Private Company
A model where you buy or sell to/from other countries
Import/Export
Kickstarter, and Gofund me are examples of this type of funding
Crowd Funding
The word for anyone who has an 'interest' in a company or business
Stakeholder
A good retail location has this; referring to lots of people walking past the storefront
Foot traffic
A structure owned by two or more people
Partnership
A type of business to fulfill a community or groups needs
Social Enterprise
A type of funding that refers to tightening your shoe laces
Bootstrapping
This is like a tax file number for a registered business
ABN / ACN
The name of the laws related to where business can be physically placed; set by local councils
Zoning
A structure that is publicly traded on the stock market
Public Company
A model of business, where they link one service or product to someone else for a fee
Broker / Brokerage
A person or company that helps fund another business, usually in exchange for part of its ownership
Venture capitalists / private investors