Starting a business - key terms

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  • Created by: MORGANKer
  • Created on: 14-04-14 17:52
What is a franchise?
the leagal right to use the name and logo and sell the products of an existing firm.
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What is market share?
The proportion of total market sales sold by one business.
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What is a forecast?
When a business estimates future sales or other variables.
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What is a sole trader?
When often one person owns the business and has unlimited liability.
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What is unlimited liability?
The owners are responsible for all the businesses debt.
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What is an incorporation?
A company such as a private limited company or plc that have limited liability.
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What is turnover?
The value of sales made during a trading period (revenue)
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Other cards in this set

Card 2

Front

What is market share?

Back

The proportion of total market sales sold by one business.

Card 3

Front

What is a forecast?

Back

Preview of the front of card 3

Card 4

Front

What is a sole trader?

Back

Preview of the front of card 4

Card 5

Front

What is unlimited liability?

Back

Preview of the front of card 5
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