Across
- 3. The process by which new businesses are formed in order to offer products and services in a market
- 5. The pace (or places) from which a firm does business. Can be both a physical location and also virtual.
- 6. A fixed amount loan from a bank which is generally used to finance long-term assets
- 7. Shareholders are only liable for the money they have invested - not for the overall debts and liabilities of their company
- 9. The difference between total sales and total variable costs
- 10. A projection, usually by week or month, of the likely cash inflows and outflows in a business
- 13. The budget which sets out the expected costs to be incurred by the firm, usually split into various categories (e.g. production, marketing, administration)
- 16. A detailed description of a new or existing business, including the company’s strategy, aims and objectives, marketing & financial plan
- 17. An external contact of a business that provides support and advice, sometimes for free
- 18. The responsiveness of demand to a change in price or incomes
- 23. A process through which a business increases the worth of the resources included in production so that customers perceive the product to be worth more than the cost of the inputs
- 24. An individual who sets up and runs a new business and takes on the risks associated with the business
- 25. The budget which sets out estimates of the likely demand for and value of the firms sales
- 26. The point at which the total sales of a business equal total costs -i.e. the business is making neither a profit nor a loss
- 27. Amounts incurred by a business as a result of its trading operations
Down
- 1. The owner of a business format (franchise) which is licensed out to othr people or businesses (franchisees)
- 2. Defining a market in terms of social-economic factors such as segmentation age, income, class etc
- 4. A stated goal or target of a business (note: a business can have more than one objective!)
- 8. The resources (land, labour, capital, enterprise) that go into producing goods and services
- 11. Costs that do not vary with the level of output – e.g. rent, salaries)Franchisee The person or company which operates a franchised business format - under licence from a franchisor
- 12. A key number for breakeven analysis: the difference between selling price per unit and variable cost per unit.
- 13. A market in which buyers and sellers are brought together using digital means of communication (e.g. online) in order to exchange information (e.g. prices) and conduct transactions. Compare with physical markets where buyers and sellers meet face to face.
- 14. A particular type of investor, usually a successful entrepreneur, who is willing to invest in high-risk, high-growth firms at a very early stage
- 15. The movements of cash into (“inflows”) and out of (“outflows”) a business
- 19. An employees who works more than 30 hours a week in a business (compare with part-time, which is working for less than 30 hours)
- 20. The amount of a product or service that customers are willing and able to pay at a given time
- 21. A detailed plan of income and expenses expected over a certain period of time
- 22. Borrowings from a bank on a current account which are payable on demand