Glossary of Terms Definitions of Key Business Terms Accounts Payable Money the business owes for purchases made but not yet paid for. Accounts Receivable Money people owe you for services or products for which you've billed them. Accounts receivable are considered a business asset. Advertising Communicating with your customer by buying space or time with specific media, such as newspapers, radio, TV, billboards or magazines.
Advertising is one of the most common marketing strategies, but it is by no means the only one.
Asset-based loan Debt that is tied to a business's accounts receivable, inventory, or other assets. If the borrower is unable to pay the loan with cash flow from the business, the lender can seize the assets. A document which shows a time line when the same amount of money is made in the business as is spent. A written description of your business, and how you plan to build and develop it. Canadian agents contracted sales representatives for your product in Canada.