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7 Cards in this Set

  • Front
  • Back

Front (Term)


Adding value

Back (Definition)


The process through which a business increases the worth of resources included in a product so that customers perceive the product to be worth more than the cost of inputs.

Front (Term)


Adviser

Back (Definition)


An external contact of a business that provides support and advice, sometimes for free

Front (Term)


Bank loan

Back (Definition)


A fixed amount loan from a bank which is generally used to finance long term assets

Front (Term)


Bank overdraft

Back (Definition)


Borrowings from a bank on a current account which are repayable on demand, allowing you to go into a negative balance

Budget

A detailed plan of income and expenses expected over a certain period of time

Business angel

A particular type of investor, usually a successful entrepreneur, who is willing to invest in high-risk, high-growth firms at a very early stage

Business plan

A detailed description of a new or existing business, including the company's strategy, aims and objectives, marketing and financial plan