Seed fund is the first stage of funding that a business receives so that the initial expenses to implement the business idea can be met. Often, for SMBs, the seed fund comes from family, friends or from loans, mortgages. This funding continues till the business can generate its own revenue or arrange funding from a financial institution.

Intellectual Property refer to any unique creation — whether in music, literature, artistic works, discoveries and inventions; words, phrases, symbols and designs. Under the IPR Protection law, the owners of the IP are given exclusive rights to their creations so that others cannot take any undue advantage.

LLP is a form of partnership characterised by the benefits of limited liability of a company and the flexibility of a partnership. Here, liability of the partner is limited to his agreed contribution. Also,no partner is liable on account of the independent or un-authorized acts of other partners. In India, a LLP is goverened by the LLP Act, 2008 and is a good option for SMBs.

Cloud computing is a technology that uses the internet and central remote servers to maintain data, software and applications thus allowing businesses to use applications without the otherwise mandatory installation and maintenance costs.

An SLA is a document that formally defines the levels of service. It includes the minimum performance standard, contracted delivery time, penalty for the non-completion of services within the agreed time, credit points if the service levels are met before time, etc.

An accounting technique which records each transaction as both a credit and a debit. Credit entries represent the sources of financing, and the debit entries represent the uses of that financing. Since each credit has one or more corresponding debits (and vice versa), the system of double entry bookkeeping always leads to a set of balanced ledger credit and debit accounts.

Marketing Mix is a general phrase used to describe the different kinds of marketing choices organizations have to make in the whole process of bringing a product or service to market.

Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business.

Resource Allocation is the process of allocating resources among the various projects or business units of a business. The term is generally used financially, but can extend to mean human resource allocation as well as raw materials allocation.