This concept involves the sale of commercial accounts receivable invoices to others at a discount. This buyer is also known as a factor. In such an arrangement, this buyer will usually assume to hold the complete responsibility. He will collect the payments and will be responsible for any credit losses on the accounts. Kids will appreciate a gift of clothing IF it has a very favorite character on it or it relates to a hobby, etc. Last year I hand inked some sword fencing t-shirts for my son and he loved them. My little nieces would love matching Disney princess jammies!
This is an individual whose name is used in the business after permission has been taken from him or her, in other words the individual lends his/her name to the business. He/she does not contribute capital or partake in sharing the profit or losses of the business. He/she does not participate in managing the business.
Your first year will introduce you to the different aspects of business. You will develop a sound knowledge of key business functions and how they work together, as well as an appreciation of factors including customer and market requirements, competition, sustainability and economic, political and technological change.