Archive: June 2007

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z V VARIABLE COSTS – Those costs of doing business such as cost of goods, shipping, handling and storage, sales commissions, etc., which are directly related to the sales of goods or services. VENDOR IDENTIFICATION PROGRAM (VIP) – The Vendor Identification Program (VIP) assists small businesses by identifying government purchasers for the items they produce for large defense contractors. The […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z U UNDELIVERED ORDERS – The amount of orders for goods and services outstanding for which, the liability has not yet accrued. For practical puproses represents obligations incurred for which goods have not been delivered or services not performed. UNFAIR LABOR PRACTICE – Action by either the employer or the union which violates the provisions of Executive Order 11491 as amended. UNIFORM COMMERCIAL […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z T TAX or TAXES – The contribution required of persons, groups, or businesses within a governmental jurisdiction for the support of governmental programs. Springtime brings a flood of questions about State taxes. T-BILLS (Treasury Bills) – Short term obligations of the U.S. government. TECH-NET – Tech-Net is an electronic gateway of technology information and resources for and about small high […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z S SBA (Small Business Administration) – An independent agency of the federal government. The U.S. Small Business Administration (SBA) was created by Congress in 1953 to help America’s entrepreneurs form successful small enterprises. The SBA also works with thousands of lending, educational and training institutions nationwide. SBDC (Small Business Development Centers) – See Small Business Development […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z R RATIO – Denotes relationships of items within and between financial statements, e.g., current ratio, quick ratio, inventory turnover ratio and debt/net worth ratios. RECEIVABLE CONVERSION PERIOD RCP – Time btween the sale of the final product on credit and cash rescipts for the accounts payable. RECIPROCITY SBA/DOT – Certification Reciprocity for Disadvantaged Businesses – The U.S. Small […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Q QUALIFIED EMPLOYEE TRUSTS LOAN PROGRAM – The objective of this program is to provide financial assistance to Employee Stock Ownership Plans. The employee trust must be part of a plan sponsored by the employer company and qualified under regulations set by either the Internal Revenue Service Code (as an Employee Stock Ownership Plan or ESOP) or the Department of Labor (the Employee Retirement […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z P PARTNERING – A mutually beneficial business-to-business relationship based on trust and commitment and that enhances the capabilities of both parties. PARTNERSHIP – A legal relationship existing between two or more persons contractually associated as joint principals in a business. PATENT – A patent secures to an inventor the exclusive right to make, use and sell an invention for 17 years. […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z O OBLIGATIONS – Technically defined as "amount of orders placed, contracts awarded, services received, and similar transactions during a given period which will require payments during the same or a future period." Also, another term for debt: money, merchandise or service owed to someone. OFFICE OF SMALL & DISADVANTAGED BUSINESS UTILIZATION (OSDBU) – Federal Offices of Small […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z N NATURAL RESOURCES ASSISTANCE PROGRAM – The federal government sells large quantities of natural resources and surplus real and personal property authorized for sale in accordance with public law. SBA cooperates with other federal agencies to channel a fair share of this property and resources to small businesses. SBA’s Natural Resources Sales Assistance Program is intended to ensure small […]

Glossary Of Small Business Terms # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z M MARKET – The existing or potential buyers for specific goods or services. MARKET VALUE – What a willing buyer will pay for goods, services, a property or a business. MARKETING – The total of activities involved in the transfer of goods and services from the /producer or seller to the consumer or buyer. Marketing activities may include buying, storing selling, advertising, pricing and promoting […]