Lesson 12: Small Biz Whiz
Terms in this set (16)
a description of the business concept and method by which a company will make money.
a detailed strategy telling how a company will put their business model into operation.
a legal entity which is separate and distinct from its owners in which ownership is shared, and which conducts business in its own name.
Doing Business As
"Dba"; fictitious business name statement filed with the state to identify the owner's name.
research and analysis of a business to determine its financial and other conditions before buying it.
a form of a business organization in which a company that has a successful product or service licenses other businesses to operate under its name.
home based business
a small business operated out of the business owner's residence.
IP; the product of human intelligence and creation such as inventions, written works, and musical compositions.
limited liability company
LLC; a corporate structure that limits the personal liability of its members for the company's debt.
a form of business where two or more people share ownership and liability for the business.
a profitability ratio that measures how much of every dollar of sales is kept by the business after expenses are paid.
Small Business Administration
U.S. government agency that provides counseling and loans to support the development of small businesses in America.
a business enterprise having fewer than 500 employees.
a simple business entity owned and run by one individual.
the early stages of a business enterprise.
Taxpayer Identification Number
TIN; a number issued by the Social Security Administration and used by the Internal Revenue Service (IRS) to identify a taxpayer; also called an Employer Identification Number (EIN)
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