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Why Join the Chamber?

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Starting a Business in Lumpkin Co.

  • Assets - Resources, owned or controlled by a company, that have future benefits. These benefits must be quantifiable in monetary terms.
  • Balance Sheet - A list of a company's assets, liabilities, and owner's equity at a particular point in time.
  • Break Even - The unit volume where total revenue equals total cost; there is neither profit nor loss.
  • Capacity - The amount of goods or work that can be produced by a company given its level of equipment, labor, and facilities.
  • Capital - The funds necessary to establish or operate a business.
  • Cash Flow - The movement of money into and out of a company; actual income received and actual payments made out.
  • Cash Flow Statement - A presentation of the cash inflows and outflows for a particular period of time. These flows are grouped into major categories of cash from operations, cash investing activities, and cash-financing activities.
  • Collateral - Assets pledged in return for loans.
  • Conventional Financing - Financing from established lenders, such as banks, rather than from investors; debt financing.
  • Debt Financing - Raising money for a business by borrowing, often in the form of bank loans. (See Conventional Financing above)
  • Debt Service - Money being paid out on a loan; the amount necessary to keep a loan from going into default.
  • Disbursements - Money paid out.
  • Equity - Shares of stock in a company; ownership interest in a company.
  • <Expenses - Outflows of resources to generate revenues.
  • Fixed Costs - Those costs that are not responsive to changes in volume over the relevant range of time.
  • GDOL – Georgia Department of Labor
  • Income Statement - A matching of a company's accomplishments I.e. sales) with effort (expenses from operations) during a particular period of time. (Revenues -Expenses = Net Income)
  • Leasehold Improvements - The changes made to a rented store, office or plant, to suit the tenant and make the location more appropriate for the conduct of the tenant's business.
  • Letter of Intent - A letter or other document by a customer indicating the customer's intention to buy from a company.
  • Liabilities - Commitments to payout assets (typically cash) to or render services for creditors.
  • Licensing - The granting or permission by one company to another to use its products, trademark, or name in a limited, particular manner.
  • Liquidity - The ability to turn assets into cash quickly and easily.
  • Market Share - The percentage of the total available customer base captured by a company.
  • Net Worth - The total ownership interest in a company, represented by the excess of the total amount of assets minus the total amount of liabilities.
  • Partnership - A legal relationship of two or more individuals to run a company.
  • Profit Margin - The amount of money earned after the cost of goods or all operating expenses are deducted; usually expressed in percentage terms.
  • Pro Forma Statements - A financial statements detailing management's predictions.
  • Receipts - Funds coming into the company; the actual money paid to the company for its products or services; not necessarily the same as a company's actual receipts.
  • SBA – Small Business Administration
  • <SBDC – Small Business Development Center
  • Sole Proprietorship - Company owned and managed by one person.
  • Variable Costs - Those costs that are directly responsive to changes in volume over the relevant range of time.
  • Venture Capitalists - Individuals or firms who invest money in new enterprises.
  • Working Capital - The cash available to the company for the ongoing operations of the business.

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Dahlonega-Lumpkin County Chamber & Visitors Bureau  |  13 South Park Street  |  Dahlonega, GA 30533  |  (706) 864-3711 or (800) 231-5543