Owners
Inderviduals or organisations to whom the business belongs too
Dividends
Part of the company’s profit paid out to shareholders per year
Employee
People who work for the business
Suppliers
Indeeviduals or businesses that provide good or a service
Local community
People or organisations in the area in the area surrounding the business
Business plan
A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecast
Business planning
Process of producing a business plan
A loan
Amount of money provided to a business for a stated purpose in return for a regular payments including interest charges
Revenue
Value of a business’s sales
Total costs
Made up of fixed and variable costs
Fixed costs
Costs that don’t change with output
Variable costs
Costs that do change with output
Protectionist measures
Policies that government uses to protect their own businesses against foreign competition
Tariff
Tax on foreign goods imported into a country
Imports
Good or services purchased from overseas by consumers of businesses
Quota
A limit on the number of foreign food imported into a country (protective measure)
Digital technology
Where businesses use computer based tools, systems and devices to generate or store data
Digital communication
Done through use of devices such as smartphones, tablets
E commerce
The buying and selling of goods and services using the internet
M-commerce
Uses a handheld device to buy good online
