accruals, 94
acid test/liquidity ratio, 104
additional expenses, 134
Ansoff Matrix, 107
appreciation, 95
artificial intelligence (AI), 49
Association of Southeast Asia Nations (ASEAN), 139
balance sheet, 32, 92–93
banks, 39
brainstorm, 14
break-even analysis, 90
Brexit, 140, 141
budget/budgeting, 84, 85–86
benefits of, 85
business, 10
demand, 18, 32
and family, 23–25
financial data, 96–105
growth, 25, 29–35
implications, 45–46
knowing your numbers, 21–22
location, 18–19
market, 75–76
naming your, 14–16
networking, 22, 70–71
own, 13
owner(s), 82
planning, 9, 10, 24, 30, 32, 55–58, 84, 96, 116
types of, 10–13
as usual, 49–50
business growth
advantages of, 108–111
disadvantages of, 112–113
people resource, 118–120
business-to-business (B2B) market, 75
business-to-consumer (B2C) market, 75
capacity planning, 85
capital gains tax (CGT), 124
carriage charges, 134
cash, 93
cash flow, 23, 133
account, 87
calculation, 87–88
components, 88–89
forecasting, 89
cause marketing, 80
challenges, 4
change
choices, 53
complexities of, 44–45
roles, 49–50
skills and competencies, 51–52
types of, 43–44
variables, 52–53
collaborative relationships, 51
commission, 129
Common Market of Eastern and Southern Africa (COMESA), 139
communication, 41–42, 50
community, 40
company, 11–12
culture, 111
website, 67–69
competitors, 82
compromise, 42
consistency of good habits, 7
contacts and referrals, 70
continuous personal development, 51
control, 85
cooperative, 12
copyright, 21
corporation tax, 122–123
costs, 19, 33
clarification of, 86
of sales, 91–92
creditors, 94
creditor turnover, 101
credit period, 134
critical thinking, 3
current assets, 93–94
current liabilities, 94
customer, 39, 82, 117
creditworthiness, 134–135
demand, 31
existing, 33
regular, 31
service, 29
debenture, 96
debtors, 93
debtor turnover, 101–102
decision making, 25–27, 38, 76, 83, 85, 107
Department of Labor (DOL), 133
depreciation, 95
destiny, 5–6
direct costs, 86
direct discrimination, 131
director’s loan, 96
disciplinary procedures, 132
discrimination, 131–132
diversification, 108
domino effect, 23
efficiency ratios, 100
emotional intelligence, 50
employees, 38, 82
paying, 129
tax position, 130
types of, 127–129
employer liability, 132–133
employing, 125–126
employment law, 130–131
employment legislation, 131
entrepreneurial lifestyle, 22–23
entrepreneurship, 1, 2, 7, 24, 67, 112, 115, 133, 137, 141, 144, 145, 149
European Economic Community (EEC), 138
European Free Trade Area (EFTA), 138
European Union (EU), 138, 140
external environment, 45–46
external stakeholders, 38–42
Facebook, 65
face-to-face networking, 62–63
Fair Labor Standards Act, 130
financial accounting, 83
fixed asset, 94–95
fixed costs, 86
fixed-term contracts, 128
franchises, 12–13
full-time employee, 127
goodwill, 95
government, 39, 82–83
gross profit, 91, 103
guidance, 85
health and safety, 133
Health and Safety and Work Act 1974 (HASAWA), 133
high-performing teams, 111
hourly rate, 129
income, 88
income tax, 121–122
indirect costs, 86
indirect discrimination, 131–132
industrial market, 76
infrastructure, 19
Instagram, 66
intangibility, 95
internal stakeholders, 38
international markets, 34
international trade, 17, 18, 137, 141–143
internet marketing, 79
interpersonal skills, 3
investors, 39, 82
invoices, 135
knowledge, 3
lenders, 39, 82
limited liability companies (LLCs), 12
LinkedIn, 65
listening skills, 51
loans, 96
long-term planning, 58–59
management information, 83
managers, 38
managing change, 53
market/marketing, 73–75, 109
cause, 80
development, 108
internet, 79
penetration, 107
planning, 76–80
poor, 24
potential size of, 16–18
relationship, 79
research, 24, 33, 77
transactional, 79
undercover, 80
medium-term planning, 57–58
Mendelow’s stakeholder matrix, 41, 50
Mercosur, 139
national insurance (NI), 123–124
net income, 91
net profit, 91
network, 34
networking, 61
benefits of, 70–71
business, 70–71
face-to-face, 62–63
noncurrent asset, 94–95
noncurrent liabilities, 96
nonverbal communication, 52
North American Free Trade Area (NAFTA), 138–139
office, 19
operating profit, 91
organic growth, 30
outgoings, 88–89
overheads, 109
owners/shareholders, 38
Pacific Alliance, 139
paid advertising, 78
partnership/acquisition/merger, 11, 30–31
part-time employees, 127
passion, 5
patents, 21
payments, 135–136
permanent employees, 127, 128–129
personality traits, 3
PESTLE framework, 46–49
planning, 9, 10, 24, 30, 32, 55–58, 84, 96, 116
long-term, 58–59
medium-term, 57–58
short-term, 57
practical skills, 3
prepayments, 94
price, 24
problem solving, 70
process management, 121–136
product development, 107–108
products/services, 34
professional services market, 76
profit and loss account, 90–91
profit/profitability, 32, 80, 87, 90
ratios, 97
prompt payment, 133–134
purchasing, 109
rapid business growth, 31
recruitment, 126–127
referrals, 33
refund, 94
relationship marketing, 79
research, 3–5, 9, 14, 18, 21, 24, 33, 55, 62, 67, 73, 74, 76–78, 90, 107, 108, 110, 113, 117, 119, 137, 143, 149
resource management, 85, 115
retention, 134
return on capital employed (ROCE), 97–98
reward, 1, 9, 24, 38, 108, 110, 113, 119, 126, 145
rigidity, 24–25
risk, 5, 27, 45, 48, 107, 108
role model, 49
salary, 129
search engine optimization (SEO), 69
self-reflection, 52
semivariable costs, 86
services market, 75–76
sharing knowledge and experiences, 70
short-term debt, 94
short-term planning, 57
small- or medium-sized enterprises (SMEs), 12
social media, 63–69, 75
society, 40
sole proprietor, 11
South Asian Free Trade Area (SAFTA), 139
stakeholder management, 37–38, 41, 50
stakeholders, 81–83
Starbucks, 13
start-ups, 1, 3, 6, 11, 16, 23, 24, 39, 56, 87, 107, 142, 145
stock/inventory, 93
stock turnover, 100–101, 104–105
strategic business growth, 30
strategy, 30, 34, 35, 49, 50, 57, 80, 108
success, 41
suppliers, 39, 82
support services, 19
SWOT analysis, 25–27, 48–49
Systems Theory, 45
tangibility, 95
tax/taxation, 11, 82–83, 94, 121, 122
liability, 125
position, 130
technology, 49
temporary employees, 128–129
TikTok, 67
trademark, 21
trading, 15, 17, 88, 137–143
transactional change, 44
transactional marketing, 79
transformational change, 44
traveling, 20
Twitter, 66
uncertainty, 43, 51, 70, 108, 129, 140
undercover marketing, 80
understanding, 85
United Kingdom, 12, 21, 122–124, 128, 130, 131, 133, 140
United States, 12, 122, 124, 128, 130–133, 138
value-added tax (VAT), 124
variable costs, 86
verbal communication, 52
virtual office, 20
visibility, 70
vision, 49
word of mouth, 79
work from home, 19
working capital ratio, 103–104
working environment, 19–20
World Trade Organization (WTO), 138
YouTube, 66–67