A business opportunity that is either a completely new idea or adds something different to an existing product or service.

The legal right to use the name and logo of an existing firm and sell the same products.

A stated target for the future. For example a new business may have the aim to survive it's first year of trading.

A clearly defined target for a business to achieve over a certain time period.

An increase in turnover, market share or profit.

What is left after costs have been deducted from revenue.

Profit made as a proportion of sales revenue.

The amount sold or the value sold.

The proportion of total market sales sold by one business.

How happy the customer is with the product or service.

The value of Sales made during a trading period, also called revenue.

An individual or group with an interest in a business, such as employees, customers, managers, shareholders, competitors and the local community.

A statement showing how a business set out to achieve its aims and objectives.

The capital provided for the various stages of business growth by different sources of finance.

A technique where the business attempts to estimate future sales or other financial variables.

The potential for loss but rewards in business make it a calculated gamble.

Not knowing the future or what is going to happen.

The most common form of business organisation, often just one person.

The simplest way two or more people can be in business together where partners are jointly responsible for debts.

Unincorporated businesses, such as sole traders and partnerships.

The process of forming a limited liability company such as a PLC.

Investors in one of these can only lose their investment in the business if it fails.

The process of buying, managing and delivering goods from the point of manufacture to the end consumer.