GLOSSARY

AREAS |

  • EU Single Market
  • EU wide tools and resources
  • Financial management
Microcredit

Microcredit is a variation on traditional credit service that involves providing small loans to people who would otherwise be unable to secure credit, typically because of poverty. Related barriers may include unemployment or underemployment and a lack of collateral and credit history.

AREAS |

  • Pathways to market
microenterprise

A micro-enterprise (or microenterprise) is generally defined as a small business employing nine people or fewer, and having a balance sheet or turnover less than a certain amount (e.g. €2 million or 3 million).

AREAS |

  • EU wide tools and resources
Microfinance

Microfinance, also known as microcredit, is a financial service that offers loans, savings and insurance to entrepreneurs and small business owners who don't have access to traditional sources of capital, like banks or investors. The goal of microfinancing is to provide individuals with money to invest in themselves or their business. https://www.businessnewsdaily.com/4286-microfinance.html

AREAS |

  • EU Single Market
  • EU wide tools and resources
  • Financial management
Microloans

microloan are for less than €50,000 and are used to help cover startup costs and other early expenses for small businesses and not-for-profits.

AREAS |

  • Pathways to market
Online Marketplace

is a type of e-commerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the marketplace operator. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process.

AREAS |

  • ICT literacy skills
Operating System (OS)

The operating system (OS) is the most important program that runs on a computer. Every general-purpose computer must have an operating system to run other programs and applications. Computer operating systems perform basic tasks, such as recognizing input from the keyboard, sending output to the display screen, keeping track of files and directories on the storage drives, and controlling peripheral devices, such as printers. Source: Webopedia: https://www.webopedia.com/TERM/O/operating_system.html

AREAS |

  • Marketing / promotion
Operational costs

Operational costs are the routine costs of running a business. While these vary based upon the type of business, many basic types of operational costs exist that a business must consider when budgeting. Some of these operational costs are fixed, meaning that each cost is identical from month to month, such as rent. However, other operational costs are variable and may go up or down from month to month, such as utilities. http://smallbusiness.chron.com/examples-operational-costs-24121.html

AREAS |

  • Pathways to market
payroll software

payroll software significantly speeds the payroll process while reducing errors and enabling managers to more easily customize paychecks for individual employees. payroll is the total amount of wages paid by a company.

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