Glossary

Accounting
A system of recording, reporting and analyzing financial transactions for a business.

Angel Investor
Individuals who invest in businesses looking for a higher return as compare to the traditional investments.

Appraisal
An estimate of the worth or value of something on the open market.

Bankruptcy
A federal law, which helps the individuals, sought out their financial crisis.

Bootstrapping Financing
It refers to building a business out of little or nothing with no or minimal outside capital.

Budgeting
The detailed financial picture of your business.

Business Incubation
A business support process providing an array of targeted resources and services to entrepreneurs at start-up.

Cash Flow
The actual movement of cash within a business or the record of a company’s money inflow and money outflow.

Collateral
Property used as security for a loan, so if the debt is not paid, the lender can sell the property to recover the value.

Commute
The process of travelling between one’s place of residence and regular place of work.

Cyber Worker
Employees working from home using computer and internet.

Dot.Com
Virtual business that is operated on the Internet and does not have traditional storefronts or office space.

Direct Selling
It is referred to face-to-face distribution of products or door-to-door selling.

Depreciation
Reduction in the value of an asset due to usage, passage of time, wear and tear, or technological outdating.


Equity
In a start-up business, the amount of money provided by the owner at the outset; often in conjunction with the amount borrowed as a loan.


Extranet
A security system that permits remote users to securely utilize the internet as an extension of a corporate computing network.


Face Time
It is of great significance for remote workers in term of professional development.


Flextime
Working hours chosen by an employee to fit his or her personal preference.


Flexiplace
Gives employees the opportunity to work from home or at a telecenter.


Free Lancer

One who doesn’t work under any long-term contractual commitments and negotiate the terms and compensation of the work on their own.


Hotelling
An office setup in which mobile workers do not have permanent office, but, rather, make reservations in advance for an office for the days that they commute.


Home Based Business
Any type of business located within your residence.


Keogh Plan
A federal tax law designed to encourage self-employed business people to set aside money for their retirement up to 20 percent of earnings.


Key Man Insurance
Insurance purchased by a company that financially protects the business from the death or disability.


Netizen
A citizen of the Internet.


Netpreneur
Home workers that make a living while working on internet from home.


RFA
It stands for Request for Application, a formal announcement of an opportunity to apply for a grant.


Remote access
Any employer accessing from any off site location.


SOHO
Abbreviation for “Small Office/Home Office”


Telecommuting
Assigning work to the employees without making them come to the work.