Entrepreneurship

Sole Trader

An individual who owns and operates their own business, enjoying total control over decisions, but facing unlimited personal liability.

Partnership

A business structure where two or more owners share responsibilities and liabilities, which can lead to shared resources and disputes.

Franchise

A business system where a franchisee operates a business under the branding and established systems of a parent company.

Limited Liability Company (LLC)

A business entity that provides limited liability protection for its owners while allowing for pass-through taxation.

Private Companies

Businesses owned by a small number of investors, not available for public trading, that retain greater control over operations.

Non-Governmental Organizations (NGOs)

Organizations that operate outside traditional business models, focusing on social, environmental, or humanitarian missions.

State-Owned Enterprises (SOEs)

Businesses fully or partially owned by the government, providing public services and goods.

Business Ethics

Moral principles that guide business conduct, including accountability, integrity, and transparency.

Corporate Social Responsibility (CSR)

The practice of companies engaging in philanthropy and sustainable practices to positively impact society.

Market Research

The process of identifying customer needs, market trends, and competition to inform business strategies.

Feasibility Analysis

An assessment using market research to evaluate the viability and potential success of a business venture.

Equity Financing

Raising capital by selling ownership stakes in a company, which can dilute control but support growth.

Debt Financing

Borrowing funds that must be repaid with interest, affecting cash flow and financial flexibility.

Cash Flow Statement

A financial statement that tracks the inflow and outflow of cash, crucial for understanding liquidity.

Value Proposition

The unique benefits or value a business offers to customers, addressing specific needs or problems.

Venture Life Cycle

The stages that a business progresses through, including development, startup, growth, stabilization, and decline.

E-Commerce

Business conducted over the internet, offering low operational costs and 24/7 access for customers.

Discounted Cash Flow (DCF)

A valuation method estimating the present value of future cash flows to assess a venture's worth.