Small Business Encyclopedia

Terms starting with: s

Sales Force

Definition: The division of a business that's responsible for selling products or services

Sales Letter

Definition: A form of direct mail in which an advertiser sends a letter to a potential customer

Sales Records

Definition: The information you have on your customers, including but not limited to their contact information, how often they purchase from you, what they purchase and how they pay their bills

Sales Tax

Definition: A tax collected by all retailers and certain service providers when they make taxable retail sales. Sales taxes could include state, county and local taxes.

Savings Incentive Match Plan For Employees (S

Definition: An individual retirement account for owners of businesses with 100 employees or less that's similar to a 401(k)

SBA Loan

Definition: Term loans from a bank or commercial lending institution that the SBA guarantees as much as 80 percent of the loan principal for

SCORE

Definition: A resource partner of the U.S. SBA that offer free counseling and resources to people interested in starting or growing a small business

Search Engine Optimization

Definition: The process of increasing the amount of visitors to a website by ranking high in the search results of a search engine

Secondary Market Research

Definition: Market research that's already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry.

Self-Employment Tax (Schedule SE)

Definition: A social security and Medicare tax primarily for individuals who work for themselves. It's similar to the social security and Medicare taxes withheld from the pay of most wage earners.

Selling Your Business

Definition: The process of putting your business up for sale by an individual or other company

Severance Pay

Definition: Money in addition to wages and any other money that employers owe employees when their employment ends, such as through a layoff or firing. Severance pay is a form of what's generally called "separation," "termination" or "final pay."

Shipping

Definition: The business of sending or transporting goods

Short-Term Loans

Definition: A loan scheduled to be repaid in less than a year

Signage and Sign Permits

Definition: Any publicly displayed information that's presented in the form of words, symbols and/or pictures and is designed to advertise your business. Sign permits provide legal permission to post such information.

Simplified Employee Pension Plan (SEP)

Definition: A retirement plan that allows you to contribute and deduct up to 20 percent of self-employment income (25 percent of salary if you're an employee of your own corporation)

Slogan

Definition: A catch phrase or small group of words that are combined in a special way to identify a product or company

Small Business Administration (SBA)

Definition: A federal government agency created to foster and protect the interests of small business

Small Business Development Centers

Definition: University-based centers sponsored by the SBA for the delivery of joint government, academic and private sector services for the benefit of small business.

Social Responsibility

Definition: Acting with concern and sensitivity, aware of the impact of your actions on others, particularly the disadvantaged

Social Security Tax (FICA)

Definition: A tax paid by workers and employers on wages earned that supports the benefit programs under the Social Security System

Sole Proprietorship

Definition: A business that legally has no separate existence from its owner. Income and losses are taxed on the individual's personal income tax return.

Special Coverage Insurance

Definition: An insurance policy expressly designed to offer a guarantee of protection in the event of specific circumstances

Succession Plan

Definition: The process of planning for the day a business owner decides to step down from their leadership role

Supplier Relationships

Definition: Affiliations with the companies that supply your business with goods and services

Subchapter S Corporation

Definition: A special form of corporation that allows the protection of limited liability but direct flow-through of profits and losses

Free Business Tools

Forms

Forms

Download and customize these free forms:

Partnership Agreement

Cashflow Worksheet

Employment Application

Calculators

Calculators

Evaluate and analyze your financials:

Cash Flow

Starting Costs

Discounted Cash Flow

Ads by Google

Latest Articles

Coming to America: An Immigrant Who Overcame a 'Taxing' Problem
Franchise Players

Coming to America: An Immigrant Who Overcame a 'Taxing' Problem

Six years ago, Paula Paredes started her ATAX franchise by first tackling an obstacle that had nothing to do with the IRS.
Entrepreneur Staff
The Secret to Connecting With Your Audience
Communications

The Secret to Connecting With Your Audience

There's one thing you can do that will rally your customers, colleagues and even competitors.
Stephen Key
Failure Is Not the End. It's an Opportunity to Learn.
Failure

Failure Is Not the End. It's an Opportunity to Learn.

Failure is an external event that happens. It is not a personality characteristic.
Ron Burr
How Growing Up With the Internet Made Millennials Different
Millennials

How Growing Up With the Internet Made Millennials Different

The generation dubbed "digital natives'' prefer YouTube to TV and the World Cup to bowl games. Marketers need to adapt.
Jeff Urban
What the Color of Your Logo Says About Your Company (Infographic)
Infographics

What the Color of Your Logo Says About Your Company (Infographic)

The Golden Arches just wouldn't communicate the same thing if they were purple.
Catherine Clifford
10 Inspirational Quotes About Independence From Successful Entrepreneurs
Inspirational Quotes

10 Inspirational Quotes About Independence From Successful Entrepreneurs

Ten famous entrepreneurs tell us why they declared their freedom.
Matthew Toren
Should You License Your Product?
Ask the Money Guy

Should You License Your Product?

An expert breaks down the good and the bad of licensing to help you decide.
No Gender Bias Figured Into What These Franchisees Chose to Do
Franchise Players

No Gender Bias Figured Into What These Franchisees Chose to Do

They used to be in oil and gas; now these guys are into waxing. No, not cars -- women's legs.
Why This Little Pickle Stand Is a Symbol of Big Innovation
Family Businesses

Why This Little Pickle Stand Is a Symbol of Big Innovation

For the company behind Horman's Best Pickles, there's never a 'dill' moment.
Carly Okyle
How to Set Prices for Your Child-Care Service
Starting a Business

How to Set Prices for Your Child-Care Service

Learn to determine pricing that will make you a profit but won't scare away parents.
The Staff of Entrepreneur Media, Inc.
The 12 Steps to Happiness That You Create (Infographic)
Happiness

The 12 Steps to Happiness That You Create (Infographic)

This feeling that we all strive for is a path we choose, not a destination to arrive at.
Jurgen Appelo
5 Ways to Be Present With Your Startup, Not Pestered By It
Leadership

5 Ways to Be Present With Your Startup, Not Pestered By It

The line between being mindfully engaged and completely consumed by your startup can become hazy over time.
Paresh Shah
6 Barriers to Referral Success
Referrals

6 Barriers to Referral Success

Implementing a referral process sounds simple in theory, but it's easier said than done. Here are the challenges -- or better put, the excuses -- that can derail your best referral intentions.
Joanne Black
6 Steps to 'Dancing' Through Conversations With Your Business Partners
Business Partnership

6 Steps to 'Dancing' Through Conversations With Your Business Partners

By having honest, respectful, productive conversations with your partner, you will find the rhythm to help you smoothly and purposefully dance your way through business relationships.
Valeh Nazemoff
6 Tips on Getting Customer Feedback and Making It Actionable
The Grind

6 Tips on Getting Customer Feedback and Making It Actionable

While qll entrepreneurs know that customer insights are invaluable to product design and continued improvement, acquiring and organizing useful feedback is easier said than done.
David Chait
More Articles

About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.

Ads by Google