to balance the books: to not spend more money than you are earning
to be self-employed: to work for yourself/to not work for an employer
to cold call: to make a sales call to someone without asking them
for permission first
cut throat competition: when one company lowers its prices, forcing other
companies to do the same, sometimes to a point where business becomes
unprofitable
to do market research: to do research into what potential customers would
or wouldn’t buy
to draw up a business plan: to write a plan for a new business
to drum up business: to try to get customers
to earn a living: to earn money
to go bust: when a business is forced to close because it is
unsuccessful
cash flow: the money coming in and going out of a business
to go into business with: to join another person to start or expand a business
to go it alone: to start your own business
to go under: (see ‘to go bust’)
to have a web presence: to have a website or social media profile that
showcases your business
to launch a product: to start selling and promoting a new product
to lay someone off: when a company ends an employee’s contract of
employment
lifestyle business: a business that is set up to bring in a sufficient
income and no more
to make a profit: to earn more money than it costs to run the business
niche business: a business that serves a small, particular market
to raise a company profile: to make more people aware of a business
to run your own business: to have a business of your own
sales figures: a report of the income a company generates through
sales of products or services
to set up a business: to start a business
stiff competition: strong competition from other companies in the same
area of work
to take on employees: to employ people
to take out a loan: to borrow money
to win a contract: when a business gets legally-binding work with an
individual or company
to work for yourself: (see ‘to be self-employed’)
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