📖 Business terminology can be a bit intimidating, but don't worry; we got you. Here's a list of the most common terms included in the Business Update and what they'll mean for your business:
- Available Capital: the total amount of money available to fund your company's operations, such as launching a new product, paying your employees' salaries, contracting suppliers, etc.
- Fiscal Year: a 12-month period in the life cycle of your business used to calculate financial statements
- Revenue: the total amount of money your business or product makes in a fiscal year before subtracting expenses
- Net Income: also known as profit, this is the total amount of money your business or product makes after paying all expenses, such as employee salaries, fixed costs, etc.
- Profit Margin: the amount of money your business earns in net income as a percentage of total revenue
- Revenue Growth: the amount of money your business made in the current year compared to the previous year