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Definitions (30)
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asset finance
A secured business loan in which the borrower pledges as collateral any assets used in the conduct of his/her business; also called commercial finance or asset-based lending. Lending is done against inventories as opposed to cash flow.
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black economic empowerment
An integrated and coherent socio-economic process that directly contributes to the economic transformation of South Africa and brings about significant increases in the number of black people that manage, own and control the country’s economy, as well as significant decreases in income inequalities.
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bridging finance
Bridging finance is a solution that is meant to provide financial assistance to small and medium entrepreneurs who have secured fixed contracts.
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broad-based black economic empowerment
The economic empowerment of all black people including women, workers, youth, people with disabilities and people living in rural areas, through diverse but integrated socio-economic strategies, that include,
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export finance
Fixed contract: A contract which is bound by completion of a project or a pre-determined time period.
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franchise
A franchise is a grant by the franchisor to the franchisee, entitling the latter to the use of a complete business package containing all the elements (trade marks, trade dress, copyright, know-how, trade secrets, business concept, methodologies) necessary to establish a previously untrained person in the franchised business, to enable him or her t [..]
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greenfield developments
These comprise projects that are undertaken in an area where unoccupied land is developed as part of a new township; or that are undertaken in an existing township where an undeveloped parcel of land is utilised for development purposes.
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historically disadvantaged persons
South African citizens who are black people, women or people with disabilities and that black people are defined to include `Africans, Indians and Coloureds’
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import finance
Key competencies: Skills or competencies, such as financial, technical and sales, considered essential for people to participate effectively in the workforce.
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niche market
A small but potentially profitable market segment where custom-made products are designed for customers. Niche marketers are often reliant on the loyalty business model to maintain a profitable volume of sales.
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