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31 Cards in this Set
- Front
- Back
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Determination |
The desire to succeed. |
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Initiative |
Being able to make the first move, spotting opportunities and acting. |
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Persuasion |
Having good people skills so you can make them come round to your way of thinking. |
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Revenue or Turnover |
The income received from sales. |
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Fixed Costs |
Costs that do not change with the level of production such as rent |
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Variable Costs |
Costs that change directly with the level of production such as buying raw materials |
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Cashflow |
The flow of cash in and out of a business |
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Inflow (Receipts) |
The cash flowing into a business, such as revenue |
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Outflows (Payments) |
The cash flowing out of a business, your costs |
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Net cash flow |
The difference between cash inflows and cash outflows. |
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Insolvency |
When a business can no longer pay its bills / debts. |
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Cashflow forecast |
A prediction of how much cash will flow through the business. |
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Opening Balance |
The amount of money a business has at the start of the month. |
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Closing Balance |
The amount of money a business has at the end of the month. |
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Business Plan |
A plan for the development of a business giving various forecasts and information, perhaps sales and management experience. |
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Long Term Finance |
Sources of money that are borrowed or invested for longer than a year, for instance a loan. |
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Short Term Finance |
Sources of money that need to be repaid quickly eg trade credit. |
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Share |
Part ownership of a company. |
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Personal Savings |
Money that has been set aside by the owner to invest in their business. |
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Shareholders |
The owners of a company. |
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Venture Capitalist |
Someone who invests in a higher risk business for a share of the equity or profit. |
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Loan |
Borrowing a sum of money which is then repaid over a period of time with interest. |
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Mortgage |
A loan generally for houses or property. |
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Dividend |
A share of the profits received by shareholders. |
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Retained Profit |
Profit which is kept back by the business and will be used to pay for future investment. |
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Leasing |
Renting equipment or premises. |
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Overdrafts |
Where the bank allows you to spend more than you actually have in the bank. It's a short term loan that will be paid back with interest. |
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Trade Credit |
Where suppliers allow you to buy now and pay later. |
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Profit |
Revenue - Total Costs |
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Total Costs |
Fixed Costs + Variable Costs
(remember to multiply Variable costs by amount you're producing!) |
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Share Capital |
They money raised from selling shares to shareholders. |
