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Small business guide

Got a dream of starting your own business? Maybe you have a great idea, and just don’t know how to make it a reality. That’s why we made this guide. From how to create a business plan and raise startup money, to expert advice on opening up shop, it’s got everything you need to navigate the twists and turns of launching a successful new business.

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Read our handy business insights.


Glossary of terms.

Below you'll find a list of useful business related terms and their definitions.



An estimate of income and expenditure for a set period of time.

Business plan

A document setting out a business’s future objectives and strategies for achieving them.

Business model

A structure for the successful operation of a business, identifying revenue sources, customer base, products, and distribution.

Cash flow

The total amount of money being transferred into and out of a business, especially as affecting liquidity.


A farm, business, or other organization which is owned and run jointly by its members, who share the profits or benefits.


A company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.


The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the internet.

Fixed costs

Business costs, such as rent, that are constant whatever the quantity of goods or services produced.


Non-repayable funds given by one party, often a government department, to a recipient.


General Sales Tax.


Harmonized Sales Tax.

Income taxes

Annual taxes levied by a government directly on income.


A practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.


A permit from an authority to own or use something, do a particular thing, or carry on a trade.

Line of credit

An amount of credit extended to a borrower that can be drawn upon when needed.


A sum of money that is borrowed and expected to be paid back with interest.


A form of business where two or more people share ownership, as well as the responsibility for managing the company and the income or losses the business generates.


A list of a company’s employees and the amount of money they are to be paid.


An official document giving someone authorization to do something.

Point of sale

The place at which goods are retailed.


A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

Sole proprietorship

A type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity.


A brand new business.


A benefit given to an individual, business, or institution, usually by the government.

SWOT analysis

A breakdown of a business’s strengths, weaknesses, opportunities and threats.

Variable costs

Costs that change as the quantity of the goods or services that a business produces changes.

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