SMALL BUSINESS

Definition: A small business is a privately owned business enterprise with a limited liability that is typically owned and operated by one or a few individuals. Key Characteristics: Examples: Advantages: Disadvantages: FAQs

The gig economy refers to a labor market model that involves short-term, project-based, or temporary work arrangements, often through online platforms. Workers in the gig economy are typically independent contractors rather than employees, and they often specialize in specific skills or services. Key Characteristics of the Gig Economy: Examples of Gig Economy Jobs: Advantages: Disadvantages: […]

Microenterprise A microenterprise is a small-scale business enterprise that typically has a limited number of employees and a relatively small amount of assets. Microenterprises are often family-owned and operated, and they often provide goods or services to their local community. Characteristics of Microenterprises: Small size: Microenterprises typically have fewer than 50 employees and a small […]

Definition: Deliverables are tangible or intangible products that are produced as a result of completing a project or task. They are tangible evidence of the project’s completion and are typically used to demonstrate the deliverables accomplished. Types of Deliverables: Tangible deliverables: Physical documents, prototypes, software, hardware, and other tangible items that can be physically seen […]

Product Life Cycle The product life cycle is a framework that describes the stages a product goes through from its conception to its decline. It is a key concept in marketing and product management. Stages of the Product Life Cycle: 1. Introduction: Product is first launched. Sales and market share are low. Focus on market […]

Inside Sales Inside sales representatives are sales professionals who work primarily from an office, primarily interacting with customers over the phone, email, and other digital channels. They typically focus on building and maintaining relationships with existing customers, generating new leads, and driving sales. Key Responsibilities: Building and maintaining relationships: Establishing and nurturing relationships with customers […]

An independent contractor is a person who performs services for a company as a sole proprietor, rather than as an employee. Here are some key points about independent contractors: Key characteristics: Independent: They are not considered employees of the company and are not subject to the same rules and regulations. Control: They have control over […]

Social media definition: Social media is a set of online platforms that allow individuals to interact, share information, and build relationships. It is a form of electronic communication that enables users to connect with friends, family, colleagues, and other groups. Key features of social media: Connectivity: Allows users to connect with others from around the […]

Invoice Financing Invoice financing is a type of asset-based lending that allows a company to obtain immediate access to funds by selling its invoices to a third party. How Invoice Financing Works: Company Invoices: The company invoices its customers for goods or services. Factor Purchases: The company sells its invoices to a factoring company at […]

Sunrise Industry The sunrise industry encompasses a wide range of businesses and activities that are typically associated with the early hours of the day. These industries include: 1. Transportation: Taxi and ride-sharing services: Provide early morning transportation for commuters, travelers, and workers. Public transportation: Operates early morning routes to connect cities and suburbs. Delivery services: […]