Small Business Encyclopedia

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Popular Terms

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.

Pricing a Product

Definition: To establish a selling price for a product.

Competitive Analysis

Definition: Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service.

Definition: A business model in which a distributor network is needed to build the business. Usually such businesses are also multilevel marketing in nature in that payouts occur at more than one level.

Partnership

Definition: A legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships.

Market Research

Definition: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face.

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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.