Business dictionary

The legal process in which a person or entity becomes unable to repay their outstanding financial obligations. This situation leads to the liquidation or sale of assets to settle debts, and often involves a restructuring or discharge of debts under the supervision of courts or creditors. Bankruptcy can be filed voluntarily by the debtor or involuntarily by creditors seeking to recover funds.

The interest rate set by a central bank (such as the European Central Bank or the Bank of Greece) which serves as a benchmark for the interest rates applied by commercial banks on loans and deposits. This rate typically determines the overall financial conditions and impacts the cost of borrowing money within the economy. It is the rate at which banks lend to each other and can influence economic activity by affecting the demand for loans or deposits.

A standard or point of reference against which things may be compared or assessed. In business, finance, and investments, benchmarks are used to measure the performance of a particular investment, asset, or strategy against a relevant standard. For example, stock market indices like the S&P 500 or Dow Jones are often used as benchmarks to compare the performance of individual stocks or investment portfolios. Similarly, in project management, benchmarks refer to established best practices or performance metrics used to gauge the efficiency or success of a project

Extremely large and complex datasets that traditional data processing tools find challenging to manage and analyze. Big Data is characterized by its volume (vast amounts of data), velocity (high speed at which data is generated), and variety (diverse data sources, including structured and unstructured formats). With the proper analytical tools, Big Data allows companies, governments, and organizations to gain insights, make data-driven decisions, and predict trends. It is widely used across industries like finance, healthcare, marketing, and technology.

The variety of life in a particular habitat or ecosystem, essential for ecological balance.

A decentralized digital ledger technology that records transactions across multiple computers in a secure and immutable way. Each transaction is grouped into blocks, which are linked to previous blocks, creating a “chain” of data. This structure allows for secure and transparent data storage, preventing unauthorized modifications. Blockchain technology is the backbone of cryptocurrencies, such as Bitcoin, and has applications in various industries like finance, supply chain, and healthcare due to its ability to ensure transparency, security, and efficiency in data management.

A debt security issued by a corporation, organization, or government entity to raise capital from investors. The bondholder acts as a lender to the issuer and is entitled to receive periodic interest payments (known as coupons) throughout the bond’s life, as well as the repayment of the bond’s face value at maturity. Bonds are used as a financing tool and come in various forms, such as government, corporate, and municipal bonds.

The value of an asset as recorded in a company’s financial statements, based on accounting principles, is determined by subtracting depreciation (for tangible assets) or impairment losses, if applicable, from the acquisition cost of the asset. This value is used to assess the asset’s relation to taxation and the financial performance of a company.

The process of building and growing a business using the personal savings of the founders, as well as the cash flow generated by the business itself, without relying on external investors or loans. This approach emphasizes self-sufficiency and resourcefulness, allowing entrepreneurs to maintain full control over their company. Bootstrapping is often used in the early stages of a startup when access to funding is limited.

The rate at which a company spends its available capital or cash reserves over a specific period, typically expressed on a monthly basis. It is often used by startups and early-stage companies to measure how quickly they are using their funds, giving insight into how long they can operate before needing additional capital. The burn rate is crucial for understanding cash flow management, especially in periods where revenue generation may not yet be sufficient to cover operating expenses.