Define The Term Business Plan

(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 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.

Define The Term Business Plan

In a start-up business, capital is the amount of money required to initiate and/or operate a business before borrowing from others.A risk associated with a business startup that is unknown or not easily apparent.In any business venture, there are always unforeseen factors that can affect the profitability of a business.The psychological realization by an entrepreneur that starting and operating a small business is full of difficult decisions and disappointments.Corporate workers who have not been previously exposed to the complications of running a business are most vulnerable.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.A franchise agreement is the contract defining the terms and conditions between the franchisor and franchisee.Franchises often give exclusive rights for a specified area.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.


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