Money that you must pay. The amounts you owe to your suppliers that are due for payment at some point in the future.

Money that you are expecting to get. The customer has not yet paid for the sales you made.

A collective decision made by two or more persons or parties to legally follow the agreed decision.

A Bond is a protection purchased by a business for the protection of customers. It is different from insurance as insurance protects the business. Bonds are to protect consumers from harmful, unethical, or otherwise poor business practices. There are two primary types of bonds—fidelity bonds and surety bonds. 

• Fidelity Bonds: A fidelity bond can be considered a supplement to business insurance because it provides protection for both the customer and the business from theft, misconduct, or fraud on the part of the company's employees.

• Surety Bonds: A surety bond, which can also be called a performance bond, provides the customer with a guaranteed assurance that the services will be provided as agreed.

For example, a self-employed house cleaner can obtain a coverage to protect against damage to the customer's home. Businesses and self-employed workers use bonding in advertising when listing the attributes of the company.

Gives authorization to straight, demolish, relocate, change or repair a building, or change the use or occupancy of a space.

Business competition is the process of businesses and individuals selling to the same customers with similar products and services.

A unique identification number required by all businesses operating within the City of Calgary.

A description of the business.

A license issued by The City of Calgary to a business owner confirming the lawful operation of a business in the city. A business license ensures that measures are in place to protect consumers and ensure public safety. Not all businesses require a business license.

A business plan is an essential step in setting up a business. Its key function is to provide a map of the necessary steps to operate one’s own business.

This is cash that you currently have available for use of your business.

Any money that is coming into business accounts. The sources of cash coming to your business could be through bank loans, sale of product or service, tax refunds, etc.

Any cash that is going out from the business account. This can be paid for inventory, salaries, taxes, legal fees, or packaging fees, etc. Anything that you pay for your investment, loans, or expenses.

The business of supplying janitorial or caretaker services.

A legal entity that is separate from its owners, the shareholders. The corporation name may be identified by the terms Limited, Ltd, Incorporated, Inc, Corporation, or Corp.

A non-profit cooperative whose members can borrow from pooled deposits at low-interest rates.

Authorization from The City of Calgary for a proposed development including the design, location, and use of a building or structure.

An individual who creates and runs a business, accepting the risks and enjoying the rewards.

Applying make-up, providing facials, manicures or pedicures and removing hair by waxing.

A fidelity bond can be considered a supplement to business insurance because it provides protection for both the customer and the business from theft, misconduct, or fraud on the part of the company's employees.

A financial institution (FI) is a company engaged in the business of dealing with financial and money transactions such as deposits, loans, savings, and currency exchange. Financial institutions include a wide range of business actions within the financial services sector including banks, trust companies, insurance companies, brokerage firms, and investment dealers.

Working an average of at least 30 hours per week, earning at least minimum wage with non-subsidized earnings. (See also part-time employment)

Supplies or products that your business keeps on hand to meet sales demands.

Approval from The City of Calgary to operate at a given location; often required as part of the approval process. Land use district is a designation or zoning term given to parcels of land within the city. Either it describes uses that are permitted or discretionary as well as specific rules for these districts as explained in the Calgary Land Use Bylaw.

A legal agreement that includes terms and conditions, where a business or organization may lease City-owned land Examples include sidewalk cafés and community association buildings.

Breaking a rule of the business license bylaws.

Includes customer/community/competition analysis, market estimate, and local analysis.

The plan to promote the business including the target market, strategy, audience, and budget.

A registered member of an approved massage association who administers a massage for a fee.

To notice or pay attention to something.

Internal organizational structure and staff required to operate the business, purchasing, quality control, inventory, customer service policies, procedures, and record-keeping.

Any legal forms required for a business including insurance, bonding, and business license requirements.

A part-time job is a form of employment that carries fewer hours per week than a full-time job. They work in shifts. The shifts are often rotational. Workers are considered part-time if they commonly work fewer than 30 hours per week.

A business owned by two or more people on business registration documents. Partner names are mentioned. Profit and loss are divided based on each partner’s financial and physical contribution to the business. Partnerships can also be understood as an agreement in which two or more persons combine their resources in a business.

Partnership deed is a legal document in which all business partners define their contributions, roles, and responsibilities. This is mostly written before the registration of the business.

The business of providing services related to body care and appearance or a therapeutic treatment not recognized by the laws of the Province of Alberta. Services include body or ear piercing, removing hair by electrolysis, esthetics services, hairstyling, and tattooing.

A recognized standard in Canada for trade occupations. Red seal certificates are acceptable across Canada.

Buildings planned for private occupancy whether on a permanent basis or not. Dwellings are divided into the following types: single-family, mobile, cottage, semi-detached, row house, an apartment building.

The business of retail sales operated from a mobile business unit that does not include a distribution manager.

Premises: the business of retail sales from a fixed location.

a plan to ensure that your website or page is easy to find in internet searches. Webpages like google or any other search site will show webpage suggestions or recommendations.

to organize, manage and assume the risk to start a business or enterprise that ultimately creates a job for the individual and others. A self-employed person is also called an entrepreneur.

a business owned by one person, hence the word sole, meaning one and only one.

A surety bond, which can also be called a performance bond, provides the customer with a guaranteed assurance that the services will be provided as agreed.

For example, a self-employed house cleaner can obtain a coverage to protect against damage to the customer's home. Businesses and self-employed workers use bonding in advertising when listing the attributes of the company.

The business of organizing a commercial exhibition of 10 or more participants, less than one month in duration, for the purpose of having the participants demonstrate and sell products or services.

A business idea that supports the needs of the local economy and where there is a reasonable chance for the person to become self-sufficient because of his/her business.