front 1 Business Plan | back 1 A document setting out a business's objectives and how it will achieve them |
front 2 Start Up | back 2 A new business |
front 3 Internal Growth | back 3 Business expansion without taking over or merging with another business (organic growth) |
front 4 External Growth | back 4 Business expansion taking over or merging with another business ) |
front 5 Sole Trader | back 5 "A business owned by one person who is responsible for all decisions, capital invested and risk." |
front 6 Partnership | back 6 "Two or more people join to set up a business. Shared decision making, capital invested and risk." |
front 7 Private Limited Company | back 7 Incorporated business with shares sold to friends and family. Limited liability. |
front 8 Public Limited Company | back 8 Incorporated business with shares sold to general public. Limited liability. |
front 9 Joint Venture | back 9 Two companies share capital and expertise on a project. Share risks and profits. |
front 10 Franchise | back 10 Buying the license to use another companies logo and sell their products. |
front 11 Unincorporated Business | back 11 No separation between the company and the owners in law |
front 12 Incorporated Business | back 12 Business is a separate legal entity - separation between owners and the company |
front 13 Limited Liability | back 13 Owners responsibility for company debts restricted to what they have invested |
front 14 Unlimited Liability | back 14 Owners personal assets may be taken to pay for debts of the company. |
front 15 Public Corporation | back 15 Government owned organisation set up to provide service to the public |
front 16 Business Objectives | back 16 Aims or targets a business sets out to achieve |
front 17 Social Enterprise | back 17 private enterprise which uses profits to persue environmental or social objectives |
front 18 Internal Stakeholders | back 18 Individual or group inside the business impacted by the business activity (owners/shareholders, managers, employees) |
front 19 External Stakeholders | back 19 person or group outside the business impacted by the business activity |
front 20 Grant | back 20 capital given by a government to a business to assist with start up costs, innovation or business growth |