Business

business (countable)

a company or organization that sells goods or services. Example: There are many new businesses in this city

business (uncountable)

trade or the activity of buying and selling goods or services. Example: Business is good at the moment

entrepreneur

a person who starts and runs a business. Example: She became a successful entrepreneur in her twenties

freelancer

a self-employed person who works for different clients. Example: He works as a freelance graphic designer

consultant

a person who gives professional advice for a business. Example: The company hired a marketing consultant

enterprise

a business or company. Example: The government supports small enterprises

firm

a business or company. Example: She works for an international law firm

venture

a new business involving risk. Example: Starting a restaurant is a risky venture

start-up

a new business, especially a technology company. Example: He founded a tech start-up

industry

a group of businesses producing similar products or services. Example: Tourism is an important industry

primary industry

an industry that extracts natural resources. Example: Farming belongs to the primary industry

secondary industry

an industry that manufactures products. Example: Car production is part of the secondary industry

tertiary industry

an industry providing services. Example: Education is part of the tertiary industry

heavy industry

large-scale industries such as steel, oil or shipbuilding. Example: Heavy industry requires huge investment

light industry

consumer-oriented manufacturing industry. Example: Clothing production belongs to light industry

sector

a broad area of the economy containing several industries. Example: The healthcare sector is expanding

market

a place or system where companies buy and sell goods or services. Example: The company entered the Asian market

enter a market

to begin selling products in a new market. Example: The company plans to enter the European market

break into new markets

idiom. to successfully start selling in new markets. Example: The brand broke into new markets in Asia

discover and conquer new markets

to find and dominate new markets. Example: The company hopes to discover and conquer new markets

corner a market

idiom. to dominate a market. Example: The company has cornered the electric vehicle market

unemployment

the state or rate of people without jobs. Example: Unemployment has risen recently

unemployed

without a job. Example: He's currently unemployed

on the dole

informal, UK. receiving unemployment benefits. Example: He was on the dole for six months

invest

to put money into a business expecting profit. Example: They invested heavily in technology

seek investment

to look for financial support. Example: The start-up is seeking investment

angel investor

a wealthy person who invests in a new business. Example: They found an angel investor to fund the company

venture capital

money invested in new, high-risk businesses. Example: The company secured venture capital

make sales

to sell products or services. Example: The business made record sales last year

open more branches

to establish additional business locations. Example: The supermarket plans to open more branches

go global

idiom. to expand internationally. Example: The company hopes to go global

engage in the community

to actively support or participate in the local community. Example: The business engages in the community through charity work

repeat buyers

customers who buy again. Example: Repeat buyers are essential for long-term success

focus on a specific niche

to target a specialized market. Example: The company focuses on a specific niche

take on new staff

phrasal verb. to employ more workers. Example: The company took on new staff last month

diversify

to expand into new products or services. Example: The business diversified into online sales

put all your eggs into one basket

idiom. to depend on only one thing. Example: Businesses shouldn't put all their eggs into one basket

keep costs low

to minimize expenses. Example: Small businesses try to keep costs low

subsidy

money given by the government to support a business. Example: Farmers received a government subsidy

grant

money given for a specific purpose that does not need to be repaid. Example: The start-up received a research grant

bottom line

idiom. a company's profit after expenses. Example: Reducing costs improved the bottom line

market research

the study of customers and markets. Example: Good market research helps businesses succeed

take a hammering

idiom, informal. to suffer serious financial losses. Example: Small restaurants took a hammering during the pandemic

keep your head above water

idiom. to survive financially despite difficulties. Example: Many small firms struggled to keep their heads above water

be hard hit

idiom. to be badly affected. Example: The tourism industry was hard hit by COVID-19

cut-throat competition

idiom. extremely fierce competition. Example: The smartphone market faces cut-throat competition

go back to the drawing board

idiom. to start planning again after failure. Example: The company went back to the drawing board after the product failed

start from scratch

idiom. to begin from the very beginning. Example: We had to start the project from scratch

cash cow

idiom. a product or business that generates a lot of profit. Example: The company's flagship product is a cash cow

lion's share

idiom. the largest portion. Example: Samsung has the lion's share of the market

bite the bullet

idiom. to face a difficult situation bravely. Example: The company had to bite the bullet and reduce spending