Running a Business 1

4. opportunity something an entrepreneur can see as an avenue to success
6. sheet shows the financial position of a business at a particular time
8. the monetary value of a business's reputation, location, customer base and other factors that make a business a profitable concern
11. the rights from a manufacturer to distribute its products under its name
13. items of value owned by a business
16. someone who starts, operates and assumes the risk of a business venture in the hope of making a profit
17. Occurs when a business can no longer pay its creditors. It may occur voluntarily or be ordered by the
18. The money or other assets used to fund the establishment of a business.

1. the costs incurred in running a business
2. A payment made to a company’s shareholders.
3. A person or organisation who provides finance (capital) to entrepreneurs.
5. The owner of a franchise.
7. Sometimes referred to as insolvency.
9. Suppliers of goods and services to businesses, especially where these are supplied on credit not cash.
10. flow statement indicates the movement of cash receipts (inflows) and cash payments (outflows) over a period of time
12. rivalry among businesses that seek to satisfy a market
14. factors population characteristics that affect customer spending and include: age, ethnicity, gender, marital status, family size and income
15. The business firm that provides the goods, services and expertise for a franchise. (For example, McDonald’s Australia is the franchisor of the individual McDonald’s restaurants in Australia. Each individual restaurant is owned by a franchisee.)