The Active Corps of Executives (ACE) is a program designed to assist small businesses by providing free and confidential mentoring, as well as business-development resources through experienced business professionals.
Bootstrapping involves starting a company with minimal capital, expecting to fund the business operations through subsequent profits and revenues.
Refers to a start-up company, typically in the IT field, that is designed to be sold to an acquirer at the earliest opportunity rather than built up into an enduring concern.
A business enterprise refers to a commercial entity that is established to conduct business and earn profit. It encompasses all the activities and operations that a business undertakes to produce and sell goods or services.
A converter is an active real estate entrepreneur who changes the ownership and/or physical configuration of property.
Crowdfunding refers to the financing of a new company or other project by selling shares or bonds directly to small private investors via the Internet. Despite its attractions, there have been fears that this growing practice offers scant legal protection to investors or to entrepreneurs, who may find their ideas are stolen and developed by others. In the UK and the USA, crowdfunding platforms have increasingly been brought within the remit of the regulatory authorities.
A development stage enterprise is an enterprise devoting substantially all of its efforts to establishing itself. Either the planned principal operations have not started, or there has been no significant revenue even though principal operations are underway.
Entrepreneurial profit refers to the compensation for the expertise and successful effort of a skilled businessperson, encompassing the portion of profit exceeding the normal profit for typically competent management.
Entrepreneurs' Relief (ER) is a tax relief scheme introduced on April 6, 2008, in the UK, offering a reduced rate of Capital Gains Tax (CGT) on disposals of qualifying business assets, effectively encouraging entrepreneurial activities.
A firm is any business organization, ranging from individual proprietorships to large corporations, and it can also refer specifically to a business partnership.
Free Enterprise refers to the economic system wherein businesses are allowed to operate with minimal government intervention, guided primarily by the forces of supply and demand.
Small businesses designed for the purpose of achieving high growth and rapid profit increases, often leveraging innovative products and strategies alongside investor capital.
A facility that provides small entrepreneurial businesses with affordable space, shared support, and business development services such as financing, marketing, and management. Incubators play an important role in helping young businesses survive and grow during the startup period, when they are most financially vulnerable.
An industrialist is an individual involved in the business of industry. The term evolved from the early industrial period, where large trusts and monopolies were formed by a group of business people referred to as industrialists.
Microcredit is the lending of small sums of money on very low security, especially to small businesses or small producers in the developing world. It aims to support entrepreneurship and alleviate poverty by providing accessible financial services to individuals who are typically underserved by traditional financial institutions.
An owner-operator is an individual who owns as well as operates their own business or the equipment used in the business for the purpose of earning income. For example, truck drivers often operate as owner-operators of their trucks.
A private limited company is a type of business entity which has limited liability and restricted ownership, preventing it from offering shares to the public.
The profit system is a fundamental element of the capitalist economic system, where the pursuit of profit drives entrepreneurial activities and shapes market production.
A proprietor is an owner of a property or business. In the context of a company, the owners are referred to as shareholders.
SCORE, formerly known as the Service Corps of Retired Executives, is a volunteer organization founded in 1964 that provides free management advice to small business owners.
Self-employed individuals work for themselves, without a formal employer, and include sole proprietors and partners in partnerships. They shoulder all business risks and responsibilities, paying self-employment tax in addition to income tax on their net income.
SCORE, formerly known as the Service Corps of Retired Executives, is a nonprofit organization that provides free mentoring, resources, and education to small business owners across the United States.
According to the U.S. Department of Commerce, a small business is defined as a business employing less than 100 people. Small businesses play a disproportionately important role in innovation as well as in economic and employment growth in the United States.
The Small Business Administration (SBA) is a United States government agency that provides support to entrepreneurs and small businesses. The SBA's mission is to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters.
The Small Business Administration (SBA) is a federal government agency based in Washington, D.C., dedicated to supporting and encouraging small businesses through various programs, including low-interest loans to qualified businesspersons.
SOHO stands for Small Office/Home Office, which refers to small-scale business setups that operate out of a residential or small commercial space. This term is primarily associated with entrepreneurial ventures, freelancers, and remote workers.
An accounting term referring to an individual who operates their professional practice as a sole proprietor, typically applied in fields like accounting, law, or consulting.
A sole proprietor is an individual who owns and operates an unincorporated business alone. Typically, a sole trader refers to an individual in business independently, while a sole practitioner is a professional practicing on their own.
