|A business opportunity that is either a completely new idea or adds something different to an existing product or service.
|Gap in the Market
|The legal right to use the name and logo of an existing firm and sell the same products.
|A stated target for the future. For example a new business may have the aim to survive it's first year of trading.
|A clearly defined target for a business to achieve over a certain time period.
|An increase in turnover, market share or profit.
|What is left after costs have been deducted from revenue.
|Profit made as a proportion of sales revenue.
|The amount sold or the value sold.
|The proportion of total market sales sold by one business.
|How happy the customer is with the product or service.
|The value of Sales made during a trading period, also called revenue.
|An individual or group with an interest in a business, such as employees, customers, managers, shareholders, competitors and the local community.
|A statement showing how a business set out to achieve its aims and objectives.
|The capital provided for the various stages of business growth by different sources of finance.
|A technique where the business attempts to estimate future sales or other financial variables.
|The potential for loss but rewards in business make it a calculated gamble.
|Not knowing the future or what is going to happen.
|The most common form of business organisation, often just one person.
|The simplest way two or more people can be in business together where partners are jointly responsible for debts.
|Unincorporated businesses, such as sole traders and partnerships.
|The process of forming a limited liability company such as a PLC.
|Investors in one of these can only lose their investment in the business if it fails.
|The process of buying, managing and delivering goods from the point of manufacture to the end consumer.