Saturday 22 September 2012

Glossary Of Small Business Terms part 5


Small Business Administration assume no liability for the accuracy of data or for the results of any contact with any company so listed. Your entered card will automatically go into our database; it will be reviewed to make sure that the written content does not offend our visitors and the public. SBA reserves the right to make minor edits to the content to conserve space.

BUSINESS CONCERN A business concern eligible for assistance as a small business is a business entity organized for profit, with a place of business located in the United States, and which operates primarily within the United States or makes a significant contribution to the US economy through payment of taxes or use of American products, materials, or labor.

BUSINESS DEATH Voluntary or involuntary closure of a firm or establishment.

BUSINESS DISSOLUTION For enumeration purposes, the absence from any current record of a business that was present in a prior time period.

BUSINESS FAILURE The closure of a business causing a loss to at least one creditor.

BUSINESS INFORMATION CENTER (BIC) One of more than 80 specialized U.S. Small Business Administration units which offer the latest in high-technology hardware, software and telecommunications to assist small business PLUS one-on-one counseling with seasoned business veterans from SCORE and/or staff from a Small Business Development Center (SBDC). Each BIC offers electronic bulletin boards, computer data bases, on-line information exchange, periodicals and brochures, counseling, video tapes, reference materials, texts, start-up guides, application software, computer tutorials and interactive media.

BUSINESS PLAN A comprehensive planning document which clearly describes the business developmental objective of an existing or proposed business applying for assistance in SBA's 8(a) or lending Programs. The plan outlines what and how and from where the resources needed to accomplish the objective will be obtained and utilized.

BUSINESS START For enumeration purposes, a business with a name or similar designation that did not exist in a prior time period. BusinessLINC Beginning June 5, 1998, the BusinessLINC initiative began encouraging more private sector business-to-business linkages that enhance the economic vitality and competitive capacity of small businesses, particularly those located in economically distressed urban and rural areas. The name conveys the full range of business-to-business assistance programs. The LINC acronym stands for "Learning, Information, Networking, Collaboration." This is a joint effort between the Department of the Treasury and the SBA.

CAAC See Civilian Agency Acquisition Council.




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