Sunday, 23 September 2012

Glossary Of Small Business Terms part 38


SELLING A BUSINESS Selling a business is different than selling any other asset because a business is more than an income-earning asset -it is a life-style as well. Therefore, the decision to sell can be emotional. Personal ambitions should be weighed against economic consequences in reaching a decision.

SERVICE MARK A word, name, symbol or device used to identify and distinguish a business that provides services rather than goods. Like a trademark, it can be registered.

SET-ASIDE CONTRACT A "set-aside" is a Federal contract designated for small business bidding only.

SHAREWARE Free or evaluation copies/links for use in your business.

SHORT TERM Period usually one year or less.

SIGNAGE Effective signage is a critical component of your retail business' success, and can contribute to the success of all businesses. To provide in depth information about signage and your business, we have divided signage information into categories in our Signage web area. After you've studied these pages, we recommend you include proper signage in the financial plans for your business. Effective signage is a key asset you'll need to become successful. Why should I have a sign? is a question often asked by business owners. The answer will vary depending on your business type and format. In a highly impulse oriented business, good signage can be the difference between the success or failure of the business. The profile of your trade area also impacts your signage needs. Good signage can increase a business's opportunity for success.

SIMPLE INTEREST RATE LOAN One which provides the borrower the face value of the loan; the borrower repays the principal plus interest at maturity.

SIZE STANDARDS The term "size standard" describes the numerical definition of a small business. In other words, a business is considered "small" if it meets or is below an established "size standard."

SMALL BUSINESS A business smaller than a given size as measured by its employment, business receipts, or business assets.

SMALL BUSINESS ACT Also see http://www.sba.gov/library/lawroom.html

SMALL BUSINESS DEVELOPMENT CENTER (SBDC) The SBDC is a center for the delivery of joint government, academic and private sector services for the benefit of small business and the national welfare. It is committed to the development and productivity of business and the economy in specific geographical regions. (See

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