Business Keywords 1.1

Enterprise

Entrepreneurial activity (can also mean a business or company)

Entrepreneur

Someone who creates a business, taking on financial risks with the aim of making
a profit from the business

Consumer

Someone who buys and uses good and services

Obsolete

Out of date or not used any more

E-commerce

Using the internet to carry out business transactions

M-commerce

Using mobile technologies, such as smartphones an tablets, to carry out business
transactions

Social media

Websites that allow users to interact with other users, by sharing text-based
messages, pictures or links to online content

Payment platforms

Enable businesses to take online payments from customers. They are usually free
for the customer to use, but take a small amount of commission from the seller

Marketplace

The activities involved in buying and selling particular types of goods or services,
in competition with other companies

Data

Information, particularly statistics, that can be collected and analysed

Demographic

Relating to the population, such as average age, average income and so on

Risk

The possibility that an enterprise will have lower than anticipated profits or
experience a loss

Financial reward

The money that an entrepreneur or investor receives when a business succeeds

Market research

The process of gathering information about the market and customers' needs and
wants in order to help inform business decisions, including product design and
marketing

Revenue forecast

A prediction of future revenue based on expected sales; this is either a judgement
or based on previous sales patterns

Cash flow

The amount of money coming in and going out of the business and the timing of
this movement

Sales revenue

The amount of money that comes in from a business's sales

Investment

Putting money into a business with the intention of making a profit

Start-up

A new business, usually with only a small number of employees - perhaps only
one

Intuition

Knowing something instinctively or understanding something easily without
conscious thought

Stakeholder

Anyone who has an interest in the activities of a business, such as its workers, its
suppliers, its directors, the local community and the government

Ethics

Moral principles or standards that guide the behaviour of a person or business

Unique selling point
(USP)

Something that makes a product stand out from its competitors

Values

Standards of behaviour or moral principles

Loyalty

Wanting to always support something or someone

Market share

The proportion of sales in a market that are taken by one business

Economy

The system by which a country's money and goods are produced and used