pbfm business terms

Sole Proprietorship

A business type owned and operated by a single individual.

Partnership

A business type owned and operated by two or more individuals who share profits and liabilities.

Corporation

A business type that is a separate legal entity from its owners, providing limited liability to the owners.

Business Plan

A document outlining the future goals and strategies of a business.

Revenue

The income generated by a business within a specific period.

Expenses

The costs incurred by a business to maintain its operations.

Business Assets

Tangible or intangible items of value owned by a business, such as property, equipment, or intellectual property.

Costs of Goods Sold (COGS)

The expenses directly associated with producing goods or services.

Marketing

Activities undertaken by a business to promote its products or services and influence consumer perception.

Advertising Profit

The earnings remaining after deducting the cost of sales and operating expenses.

Liability

Financial obligations or debts that a business must settle.

Business Risk

The potential for financial loss or failure due to uncertainties in the business environment.

Advertising

Promotional activities aimed at increasing product visibility and sales.

Competitor

Another business operating in the same industry and targeting similar customers.

Customer

An individual or entity that purchases goods or services from a business.

Employees

Individuals hired by a business to perform tasks in exchange for wages or salaries.

Insurance

A financial product that provides compensation in case of specified risks or losses.

Logo

A distinctive symbol or design representing a company or brand.

Products

Goods or services offered by a business for sale to customers.

Manager

An individual responsible for overseeing and directing the operations of a business.

Inventory

The complete list of goods or materials held by a business at a specific time.