Small Business Encyclopedia

Category: Operations

Capital Equipment

Definition: Equipment that you use to manufacture a product, provide a service or use to sell, store and deliver merchandise. This equipment has an extended life so that it is properly regarded as a fixed asset.

Fulfillment

Definition: The process of receiving, packaging and shipping orders for goods

Importing

Definition: The process of bringing goods from one country for the purpose of reselling them in another country

Depreciation

Definition: An expense item set up to express the diminishing life expectancy and value of any equipment (including vehicles). Depreciation is set up over a fixed period of time based on current tax regulation. Items fully depreciated are no longer carried as assets on the company books.

Distribution Models

Definition: The manner in which goods move from the manufacturer to the outlet where the consumer purchases them; in some marketplaces, it's a very complex channel, including distributors, wholesaler, jobbers and brokers.

Business Cycle

Definition: Periods during which a business, an industry or the entire economy expands and contracts

Economic Development Agency

Definition: An agency whose goal is to help develop and support economic growth within a specified city, region or state by providing necessary resources and assistance

Inventory

Definition: An itemized list or catalog of the stock of a business

Packaging

Definition: The wrapping material around a consumer item that serves to contain, identify, describe, protect, display, promote and otherwise make the product marketable and keep it clean

Permits

Definition: A legal document giving official permission to do something

Private Label Sales

Definition: Licensing your product to another company to sell under its own name, rather than under yours

Exporting

Definition: The selling of goods and services produced in one country in another country

Product Development

Definition: The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product

Relocation

Definition: The movement of a business from one region or location to another

Return on Investment (ROI)

Definition: A profitability measure that evaluates the performance of a business by dividing net profit by net worth

Outsourcing

Definition: The practice of having certain job functions done outside a company instead of having an in-house department or employee handle them; functions can be outsourced to either a company or an individual

Overhead

Definition: The indirect costs or fixed expenses of operating a business (that is, the costs not directly related to the manufacture of a product or delivery of a service) that range from rent to administrative costs to marketing costs

Shipping

Definition: The business of sending or transporting goods

Vehicle Fleet

Definition: Vehicles owned by a company and used for business purposes

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.

Supplier Relationships

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

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

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About Encyclopedia

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