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Definition
| A category of expenditure that a business incurs as a result of performing its normal business operations. |
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| A cost that does not change with an increase or decrease in the amount of goods or services produced. |
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| An expense that varies with production output. |
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| A cost composed of a mixture of fixed and variable components. Costs are fixed for a set level of production or consumption, becoming variable after the level is exceeded. |
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| A company's revenue minus its cost of goods sold. |
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| the amount of sales or revenues that it must generate in order to equal its expenses. In other words, it is the point at which the company neither makes a profit nor suffers a lot. |
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Term
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| A business plan is a document that describes a new business and a strategy to launch that business. |
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| is a brief recounting of the key points contained in a business plan. |
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| your qualification and any partners. |
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| outlines the company's basic background information, business concept, and goals and objectives. |
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| describes the features and benefits of the business's products and services. |
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| Vision and Mission Statements |
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| sets forth the guiding principles by which a company functions |
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| Must address basic trends and growth within the industry |
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| Presents your market research and features a customer demographic profile that defines the traits of the company's target market. |
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| focuses on demonstrating that the proposed business has an advantage over its competitors |
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| describes a company's marketing mix strategies or how it plans to market, promote, and sell its products or services. |
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| includes information about all the processes that take the business and offers information about the business's legal structure, methods of and responsibilities for record keeping, ad legal and insurance issues. |
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| presents past and current fiancnes and financial forecasts and explains the assumptions made when calculating forecast figures |
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| looks at how the business will expand in the future. |
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| examines the assumptions in the business plan and the greatest risks to the business and suggests plans to minimize the risk. |
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Definition
| first page of the business paln and includes the company's name, address, phone number, web site address, e-mail address, and company logo. |
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Definition
| follows the cover page and includes the company name; names, titles, and dresses of the owners; date the business plan was issued; and the name of the person who prepared the business plan. |
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| Small Business Administration (SBA) |
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Definition
| A federal agency that provides services to small businesses and new entrepreneurs. |
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Term
| Service Corps of Retired Executives (SCORE) |
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Definition
| dedicated to provide free face-to-face and e-mail counseling to small businesses. |
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| Small Business Development Centers (SBDCs) |
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Definition
| program administrated by the SBA. |
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Definition
| provide information about the local economy. |
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Definition
| offers technical and general assistance to entrepreneurs in specific profession or industry. |
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