| A | B |
|---|
| trading firms | buy and sell goods |
| service firms | provide a service |
| manufacturing firms | construction of goods |
| sole proprietor | single owner of a business |
| partnership | co-owners of a business |
| companies | a business with a seperate legal entity |
| public companies | minimum of five shareholders |
| ptyltd | private companies |
| liability | responsibility for outstanding debts |
| franchise | a business operates as part of a group |
| starting capital | funds required to start a business |
| inventory | stock |
| debtors | owing money to a business |
| creditors | the business owes money to them |
| employees | staff |
| employers | the boss |
| feasbility study | evaluate proposal |
| legal requirements | local council laws |
| franchisor | parent business |
| accounts | records of transactions |
