involves the cash purchase of a business’ sales invoices at a discount, after which, the factoring company collects the invoiced amounts from the business’ customers. Factoring is used where the business needs immediate cash.

feasibility study

an examination of a particular project or business to assess its chances of operating successfully, before committing large amounts of money to it.


money resources

financial statements

formal reports prepared from accounting records describing the financial position and performance of the business.

financial year

an accounting period of 12 months, often coincident, for convenience, with the fiscal year (1 July to 30 June).


obtaining money resources. Businesses usually have to obtain finance at some time, either to go into business or expand operations.

fixed assets

the land, buildings, vehicles, materials and equipment owned by a business, which are used to earn revenue rather than being for sale.

fixed costs

costs, which are incurred by a business whether it is operating to generate income or not and which do not necessarily increase or decrease as a total volume of production, increases or decreases. Rent, for example, must be paid whether or not any business is accomplished.


a business arrangement in which knowledge, expertise and often a trade mark or trade name are licensed to an operator, generally for an initial fee and a yearly payment.


the purchaser of a franchise licence who operates one or more outlets of the franchise business.


the owner of a franchise system


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