chapter 12 Flashcards
formal sources of help and support:
government/business agencies
gov. grants and loans : starting up, encouraging research and development and energy efficiency
subsidies: to keep the prices low of the goods
setting up dedicated agencies: support and advise
training: recruit labour more easily at a lower cost
tax incentives: start- ups
relaxed government policies: rapid easy business licensing
special economic zones (SEZ): business and trades laws are diff. than the rest of the country (lower)
business license
a permit that allows the business to operate in that area.
tariffs
tax/charge to be paid by a business to the gov. for importing and exporting
trade barriers
steps taken by the gov. to control international trade.
import duties
a tax to be paid by a business to the gov. for importing goods from another country
micro loans
small amounts of money the can be borrowed more easily
business network
a group of likeminded people/enterpreurs who meet on a regular basis to share ideas and explore future business partnerships
mentor
an expert/ experienced person who agrees to provide dedicated advice and support.
informal sources
friends and family
