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Welcome to our comprehensive Glossary of Business Terms, with business words that begin with the letter “S.” In the complex and ever-evolving business world, staying informed about the latest terms and concepts is crucial for professionals across various industries.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Salary
A form of pay given to employees at regular intervals in exchange for the work they have done.
Sales
The activity of selling a company’s products or services, the income generated by this, or the department that deals with selling.
Sales Channel
A means of distributing products to the marketplace, either directly to the end customer, or indirectly through intermediaries such as retailers or dealers.
Salesforce
A group of salespeople or sales representatives responsible for the sales of either a single product or the entire range of an organization’s products.
Sales Forecast
A prediction of future sales, based on past sales performance. Sales forecasting takes into account the economic climate, current sales trends, company capacity for production, company policy, and market research.
Sales Network
The distribution network by which goods and services are sold.
Sales Outlet
A company’s office that deals with customers in a particular region or country
Sales Promotion
Activities, usually short-term, designed to attract attention to a particular product and to increase its sales using advertising and publicity.
Sales Quota
A target set for the sales force stating the number and range of products or services that should be sold.
Sales Representative
A salesperson selling the products or services of a particular organization or manufacturer. Sales representatives are sometimes employed directly by a company as part of the sales force or they may work independently and be employed by contract. Sales reps often represent more than one product line from more than one company and usually work on commission.
Sample
A limited portion of the whole of a group.
Security
The collateral that is promised to a lender as protection in case the borrower defaults on a loan.
Seasonal Business
Trade that is affected by seasonal factors, for example, trade in goods such as suntan products or Christmas trees.
Seed Money
A usually modest amount of money used to convert an idea into a viable business. Seed money is a form of venture capital.
Self-employment
Being in business on one’s own account, either on a freelance basis or by reason of owning a business. and not being engaged as an employee under a contract of employment.
Self-liquidating
Providing enough income to pay off the amount borrowed for financing.
Service Business
A retail business that deals in activities for the benefit of others.
Service Charge
A gratuity usually paid in restaurants and hotels; a fee for any service provided, or an additional fee for any enhancements to an existing service.
Settlement
The payment of a debt or charge.
Setup costs
The costs associated with making a workstation or equipment available for use.
Share
One of the equal parts into which the ownership of a corporation is divided. A “share” represents part ownership in a corporation.
Short-term notes
Loans that come due in one year or less.
Side Hustle
A business or a gig that can be a great way to earn extra money on the side in addition to your primary income. A side hustle is an alternative or additional income stream that is typically done on a part-time basis.
Read: 4 Reasons Why You Should Start Your Side Hustle
Social bookmarking
Social networks are collaborative efforts that use democracy and voting to influence the importance of items that are bookmarked.
Sole Proprietorship
Business legal structure in which one individual owns the business. It is a business owned by one person, who is entitled to all of its profits and responsible for all of its debts, is considered a sole proprietorship. This legal form is the simplest, providing maximum control and minimum government interference.
Read: Types of Business Entities and Its Pros and Cons
Stock
An ownership share in a corporation; another name for a share. Another definition would be accumulated merchandise.
Suppliers
Individuals or businesses that provide resources needed by a company in order to produce goods and services.
Survey
A research method in which people are asked questions.
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