Define The Term Business Plan

Define The Term Business Plan-37
The aging of A/Rs can help prevent losses on future sales from delinquent accounts.(Barriers to Entry) Any condition or circumstance that makes it difficult for a new business to enter an industry, such as exclusive ownership of a unique resource, economies of scale, patents, licenses, trademarks, copyrights, dedicated distribution channels, and high initial investment requirements.Incubators may be funded by state or local government as well as private interest groups.

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Fixed assets do not include items normally consumed during business operation or production, such as office stationary or product raw materials.

Business expenses that do not change regardless of production increases or decreases, for example, lease expenses, insurance, interest on loans, salaries, utilities, etc. The right under which a franchisee person or company may market a product or service, as granted by the franchisor (the proprietary owner).

THE following dictionary provides definitions for 153 business terms useful for entrepreneurs who are planning to start a small business.

Also included are links to four of the top business dictionary resources on the Web.

Money or property owned or used in business by a sole proprietor or corporation, to produce wealth.

In a start-up business, capital is the amount of money required to initiate and/or operate a business before borrowing from others.Astute business planners try to minimize these risks by anticipating possible unknown factors all phases of their operations and establishing preventative measures or backup plans where possible.A facility designed to encourage entrepreneurship and minimize obstacles to new business formation and development, particularly for high technology firms, by housing a number of budding enterprises that share an array of services, such as rent, secretarial services, and business counseling.Avoids the use of middlemen such as wholesalers and retailers. A business that purchases your products for resale to wholesale and retail outlets.Distributors expect to receive a significant discount for providing the distribution service of getting your factory produced products to the end users.(long term assets) These are usually non-liquid business assets used in the operation of a business.Tangible fixed assets include real estate, buildings, furniture, fixtures, and equipment, whereas, intangible fixed assets include trademarks, patents, and brand recognition.The time required to convert raw materials into finished goods, finished goods into sales, and sales into received payments from customers.In a retail business, it is directly related to inventory turnover.In accounting terms, it is the amount of cash generated by a business after expenses (including interest) and principal repayment on financing are paid.Goods frequently purchased by the consumer that need to be made easily available to facilitate purchasing.

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