Param Patel - Entrepreneurship Vocabulary

10. A business owned by only one person/singular individual.
13. A process involving starting, creating and setting up a business acknowledging what comes with it.
14. A valuable item owned by a business in order to achieve something.
15. In the position where a business has nothing of value.
16. The finances required by a new business to pay for essential fixed and current assets before it can open for business.

1. An estimate of income and expenditure for a set period of time (Essentially a way to manage your money wisely.)
2. The money you earn after subtracting expenditures from the money earned after a sale.
3. A person who accepts the risks of a business and starts one using 4 different types of resources; Natural, Financial, Machines, and Human Capital.
4. A group of people in a business made up of multiple employers and employees.
5. Working with another individual or group in order to accomplish one primary task (in this case to own a business and maintain it successfully.)
6. Responsibilities you have in the workplace.
7. Another plan primarily focusing on how the entrepreneur is going to present their business product and how they are going to persuade the consumer to buy their product.
8. A plan answering the 5 purposes of a business; Who’s doing it, for whom are they doing it, where are they doing it, why are they doing it, and how are they gonna do it.
9. The amount of money a business has in order to fund daily tasks
11. The state in which a business doesn’t gain any profit nor does it lose anything
12. Providing a nonphysical product to a customer often requiring the provider to act or do something that provides value to the customer.