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J837 - TA5

Factors to consider when starting up and running an enterprise

TermDefinition
Sole Trader One person who owns and controls their own business but they can employ other people.
Partnership Owned by two or more people who are jointly responsible for the business
Franchise A business where the owner grants a licence to another business to operate its brand
Limited liability A partnership in which the partners are not personally liable for the debt
Unlimited liability Where the business owners are liable for all of the debts
Limited Company A business owned by shareholders and run by directors
Private limited company Only sell shares to family and friends
Public limited companies Sell shares publicly on the open market
Source of capital Sources of income for a business
Revenue stream Sources of finance; Where the money is coming from
Owners Savings Money put into the business by the owner
Business Angel A wealthy entrepreneur priovdes the money with a % share of profits
Grants Start up grants available from banks, charities or the government
Crowdfunding When groups of investors join together to fund a project
Friends and Family Common source of finance but offers risks to personal relationships
Loan Long term source of finance offered by banks
Capital The money needed to start or expand a business
Deed A legal document that is signed, especially one regarding the ownership of of the business
Support for Enterprise Places to find help with your business
Local council enterprise department Help from the local council to give you advice and support
Accountants Experts in finance that can support with taxes and money advice
Solicitors Experts in legal issues that offer advice with things like copyright and data protection
Chamber of Commerce A group that helps local businesses with with resources and community engagement.
Government support Help for businesses from the government with grants, tax incentives, training programs, and advice
Charities Free help with advice on various aspects such as fundraising, marketing and community engagement
Created by: weirdog
Popular Business sets

 

 



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