to balance the books

to not spend more money than you are earning

to be self-employed

to work for yourself/to not work for an employer

to cold call

to make a sales call to someone without asking them for permission first

cut throat competition

when one company lowers its prices, forcing other companies to do the same, sometimes to a point whe

to do market research

to do research into what potential customers would or wouldn’t buy

to draw up a business plan

to write a plan for a new business

to drum up business

to try to get customers

to earn a living

to earn money

to go bust

when a business is forced to close because it is unsuccessful

cash flow

the money coming in and going out of a business

to go into business with

to join another person to start or expand a business

to go it alone

to start your own business

to go under

(see ‘to go bust’)
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