business

• rewards


  benefits an entrepreneur receives from starting up and running a business
• risks


  possible losses an entrepreneur may suffer from starting up and running a business
• aims and objectives

  what the business is trying to achieve
• business plan

  plan that sets out details of the product or service being sold
• partnership


  business owned by between 2 and 20 partners
• sole trader


  a business owned by one person
• private limited company (ltd)

  usually smaller business, it can sell shares to invited people only
• public limited company (plc)


  it can sell shares to anyone who wants to buy
• assets


  items owned by the business
• external stakeholders

  the local community, suppliers, customers and government
• internal stakeholders

  the owners and the people who work in the business