Encyclopedia

Small Business Encyclopedia
Letter: T

Target Market

A specific group of consumers at which a company aims its products and services

Tax Deductions (aka Standard Business Tax Ded

The costs of doing business that are tax-deductible to the full extent of the law

Taxes

Sums imposed by a government authority upon persons or property to pay for government services

Taxpayer ID Number

A 9-digit number obtained from the IRS by a business with paid employees. If you're a sole proprietorship, your taxpayer ID number is your social security number.

Telecommuting

The practice of working from home for a business and communicating through the use of a personal computer equipped with modem and communications software

Telemarketing

Use of the telephone to market goods or services directly to prospective customers

Television Advertising

Ten- to 60-second commercials on network TV stations

Temporary Workers

Employees who are not permanently hired but hired just for limited periods of time

Term Loan

A loan for equipment, real estate and working capital that's paid off like a mortgage for between one year and ten years

Terminating an Employee

A document that outlines the procedures involved when employees are fired, with or without cause

Trade Association

An organization that represents the interests of the member firms of an industry

Trade Credit

An arrangement to buy goods or services on account, that is, without making immediate cash payment

Trade Secrets

Information used by a business, which can be legally protected that is secret to the general public and is critical to the livelihood and success of a business

Trade Shows

An exhibition for companies in a specific industry to showcase and demonstrate their new products and services. Generally trade shows are not open to the public and can only be attended by company representatives and members of the press. Also, an exhibition of businesses offering franchises and/or business opportunity packages for sale.

Trademark

Any symbol, word or combination thereof used to represent or identify a product. A service mark means the same thing, but identifies a service.

Training Programs

Programs designed for training employees in specific skills

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