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S

Sales Force

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

Definition: A form of direct mail in which an advertiser sends a letter to a potential customer
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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
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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.
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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)
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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
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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
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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
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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.
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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.
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Selling Your Business

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

Definition: The business of sending or transporting goods
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Short-Term Loans

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

Definition: A catch phrase or small group of words that are combined in a special way to identify a product or company
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Small Business Administration (SBA)

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

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

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

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

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

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