We’ve compiled a glossary of common business terms and acronyms related to entrepreneurship and small businesses. Some of this business terminology may be familiar to you while some you may have only heard in passing without knowing what it meant. Whatever your experience level or familiarity with these business terms, our business terms glossary covers the most commonly used business terms and their definitions. So without further ado, here are some business terms every professional should know.
Advertising is a type of marketing for businesses that helps increase sales and raise awareness to your target audience. Marketing includes paid announcements, radio, television, PPC (pay per click), billboard ads, newspapers, posters and magazines. Current and future customers can form their own opinions on your brand from your marketing strategies, so it’s important to make a positive impact.
An angel investor is a wealthy person (they often work in business investment) who invests their money in organizations that are typically in the development stages. Angel investors not only contribute financially, but they invest their time, experience, advice, contacts and business vision into the company or startup. Many angel investors can invest online through equity crowdfunding or can organize themselves into angel groups.
Bartering is a system of exchange where goods and services are exchanged directly for other goods or services without the use of a monetary medium (money). There are many formal barter groups including BarterMachine and Barter Network Ltd. that network a large number of businesses looking to trade products and services.
Business acquisition occurs when one organization (the acquirer) buys a set amount or all shares in another company (the target) to take control and expand business. This term is often used with “merger”. However, the two processes are not the same. There are different types of business acquisitions including congeneric acquisitions, vertical and horizontal acquisitions, and conglomerate acquisitions.
Often confused with office business centers and virtual office services, business incubators provide workspaces for clients, business coaching courses and support services in the early stages of business development. In most cases, clients pay for business incubator programs as they help startups and entrepreneurs bring their ideas to life. Depending on your personal financial situation, some employment insurance benefits will help cover these costs – which is a great option for young people. Many business incubators specialize in a particular industry and work to bring other like-minded businesses together.
Consumer direct marketing is a type of marketing where producers or distributors market your products or services directly to consumers. Consumer direct marketing aims to persuade select groups of consumers to undertake specific actions like purchasing a product or service, placing an order, or visiting a store or website.
Copyright refers to the legal right of an owner’s intellectual property. Not only does this apply to musicians and producers, but also applies to businesses. In layman’s terms, copyright is the right to copy. It’s a type of legal protection available to creators as the ones with the exclusive right to reproduce or copy the work.
A corporation is a legal entity that is separate and distinct from its owners. It’s created by individuals, stockholders or shareholders for the purpose of operating for a profit. During the process of incorporation, an organization or group of people are authorized to act as a simple entity that is recognized by the law. Incorporation protects a business entity’s owners from being personally liable in the event of a lawsuit or legal claim. Corporations have the right to enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes.
A coworking space is a type of remote office where many small to medium sized businesses, independent contractors and freelancers come to work. Coworking spaces offer many amenities you normally wouldn’t find in a traditional office space. Another key differentiator is businesses don’t need to sign a long-term lease to work at a coworking space – which can help save money in the long run.
An entrepreneur is someone who starts or owns a business in any sector. Entrepreneurs create or invest in one or more businesses, often pursuing commercially driven opportunities to bring new products or services to the market with limited resources and high risk.
A general partnership is a business arrangement where two or more individuals conducting business operations together agree to share all the assets, profits, legal and financial liabilities. In this organizational structure, each individual has unlimited liability and assumes full legal responsibility for all business debts.
An independent contractor is a self-employed individual or business entity contracted to perform work for or provide a service to another business. Independent contractors usually have to pay their own social security and medical taxes as they’re not accounted for by the business itself. In general, a lot of contractors are paid on a freelance basis. Operating as a freelancer has many benefits as workers can earn extra money outside of their regular job and they can focus on work that inspires them.
An intrapreneur is an employee that is tasked with coming up with an innovative idea or project within an organization to help move the needle. Because this type of project is done internally, a professional worker may not face the risks or reap the benefits of a typical entrepreneur. However, depending on the organization, they may have more access to resources in an established company.
A joint venture is when two or more companies come together to collaborate on a project or task. At the end of the venture, the companies involved will share profits, resources, debts and losses, and expenses.
Limited partnership is a business arrangement made up of two or more partners. The general partner oversees the business while limited partners do not partake in operations and decision-making. The general partner has an unlimited liability to debts and limited partners have limited liability for their investment.
A line of credit (LOC) is a set amount of money that can be accessed at any point. The borrower can take out cash as needed until the limit has been reached. As professionals pay off the balance, it can be used again – making it similar to the concept of a credit card. The balance of a line of credit can be paid at any time when the funds are available. When you repay the balance, the credit limit will be replenished, allowing you to continue withdrawing from it until you reach the credit limit once more.
Marketing is a foundational business term and it’s the process of conducting market research and advertising campaigns with the intent of promoting and selling a product or service. Marketing includes a broad range of practices, including advertising, publicity, promotion, pricing and packaging.
A merger is an agreement and the joining of two companies. In a merger, two separate business entities combine resources to create an entirely new business with new ownership and management structure. These usually take place to reduce operation costs, expand into new markets or boost profits.
Multi-level marketing (MLM) is a strategy that some direct sales companies use to encourage their existing distributors to recruit new distributors by paying the existing distributors a percentage of their recruits’ sales. Multi-level marketing may also be referred to as network marketing or referral marketing.
Network marketing is a business model where a distributor network is needed to build the business. Network marketing depends on person-to-person sales of a product or service through a network of distributors. Similar to multi-level marketing, individuals generate money through commissions from each sale they make as well as commissions from the sales made by recruits.
Networking is the exchange of information and ideas between people, businesses and groups. It helps form meaningful, mutually beneficial business relationships to increase your knowledge or awareness of news and trends in particular fields and to expand your business base. There are specific networking events held for all types of business sectors. It can be a great way for other professionals to interact and foster connections.
Outsourcing is when a business hires a professional or independent contractor outside of the organization to perform a task or lead a project. Companies will often go this route to help cut costs while accessing talent globally.
A patent is a type of intellectual property similar to copyright in which an individual or business entity is granted exclusive rights over an invention, product, design, or process. This property right is granted by a sovereign authority to an inventor to exclude others from making, using, or selling the invention for a set time in exchange for public disclosure of the invention when the patent is granted.
Considered to be the simplest business structure, a sole proprietorship is an unincorporated business owned and operated by a single individual. In this business model, the sole proprietor or owner is solely responsible for all business decisions, receives all of the profits, assumes all risks associated with the business and its operations, and claims all losses. Moreover, the sole proprietor does not have a separate legal status from the business, meaning they have unlimited liability for any losses or debts incurred (i.e. risks extend to their personal property and assets).
A trademark is another form of legal protection for intellectual property consisting of recognizable words, phrases, names, symbols, sounds, signs, designs and expressions. It’s how your audience recognizes your products or services and distinguishes them from competitors in your market.
A virtual office gives businesses a physical address and office services without signing a long-term lease. Employees can work anywhere in the world but still use a mailing address, phone answering services and access meeting rooms.
There are many more business terms that are used by entrepreneurs, but this business terms glossary covers some of the most common business terms used. There are some business terms that are more specific to certain industries or sectors of business than others that have not been included in this glossary of common business terms which may be helpful to know.
Telsec offers a variety of fully furnished office solutions, from private and shared offices to virtual office, along with a range of other services that are designed to help entrepreneurs and other professionals looking to start their own business enterprises in the heart of Toronto’s financial and banking industries. Book a tour with Telsec today!
Hotels
1. THE OMNI KING EDWARD HOTEL
37 King Street East
Toronto
Jennifer Smith, General Manager
Jennifer.smith@omnihotels.com
Tel: 416-863-9700
www.omnihotels.com/hotels/toronto-king-edward
2. EXECUTIVE HOTELS AND RESORTS (BOUTIQUE)
8 Colborne Street
Toronto
Mark Perry, General Manager
generalmanager@cosmotoronto.com
sales@cosmotoronto.com
reservations@cosmotoronto.com
sales.toronto@executivehotels.net
Tel: 416-350-2419
www.spazen.ca or www.cosmotoronto.com
3. HOTEL VICTORIA (BOUTIQUE)
56 Yonge Street
Toronto
Emeline Boul, General Manager
frontdesk@hotelvictoriatoronto.com
Tel: 416-363-1666
Mobile: 647-574-5832
www.hotelvictoriatoronto.com
4. ONE KING WEST HOTEL
1 King Street West
Toronto
Omkar Sawant, Reservations Manager
reservations@onekingwest.com
Main: 416-548-8100
Reservations: 1-866-470-5464
www.onekingwest.com
5. CAMBRIDGE SUITES TORONTO
15 Richmond Street East
Toronto
Van Nguyen, General Manager
booktoronto@cambridgesuitestoronto.com
Direct: 416-601-3757 Hotel: 416-368-1990
www.cambridgesuitestoronto.com
6. LE GERMAIN HOTEL
Maple Leaf Square
75 Bremner Vlvd.
Toronto
Claudia Cantor
ccantor@germainhotels.com
416-649-4085
Jessica Ham
jham@germainhotels.com
416-910-0427
Main: 416-649-7575
www.germainhotels.com
Health and Wellness
1. MORPHEUS8 BY INMODE
47 Colborne Street
Toronto
Thom Tullo
info@amanspa.ca
Tel: 416-863-6564
www.amanspa.ca
2. ALTITUDE ATHLETIC TRAINING
56 Colborne Street
Toronto
info@altitudeathletictraining.com
Tel: 416-366-3838
www.altitudeathletictraining.com
3. POUTx – Botox and filler clinic
89 King Street East
Toronto
info@thepoutxlinic.com
Tel: 647-350-5475
www.poutx.com
4. PHYSIOHEATH STUDIOS
33 Victoria Street, #130
Toronto
info@physiohealthstudios.com
Tel: 416-368-2525
https://physiohealthstudios.com/
CAFES & COFFEE SHOPS
1. Tim Hortons
18 King St. East (Telsec Building)
Toronto
2. Daily Ritual Café
1 King St. West
Toronto
3. Starbucks
4 King St. West
Toronto
4. Mos Mos Coffee
25 King St. West
Toronto
5. Hale Coffee Company
1 Adelaide St. E
Toronto
6. Coffee at Carltons
36 Toronto St.
Toronto
GREAT QUALITY NEIGHBOURHOOD
18 King Street East is a quality boutique Class A building – East
of Yonge Street: easy street parking, less traffic, excellent restaurants and lovely treed parks – St. James Park @
Church & King and Berczy Park @ Wellington East, Scott and Front Streets – Very high energy and engaging
area.
RESTAURANTS/TAKE OUT
Leave it to TELSEC. Let our staff take care of the catering for the important business meeting room rental or
training seminar! Just let us know what types of food you prefer and for how many people and let us do the
rest. For breakfast, lunch and dinner, Telsec can provide anything from assorted sandwiches to a high-quality
hot sit-down meal. We’re always happy to take care of our clients! https://telsec.net/boardrooms-meeting-
rooms/
1. CRAFT BEER MARKET (OUTDOOR COURTYARD)
Courtyard backs onto our Telsec building, 18 King St. E
1 Adelaide St E (enter on east side of Yonge St., south of Adelaide)
Toronto
Ryan Halsall
info@craftbeermarket.ca
Tel: 437-922-BEER (2337)
www.craftbeermarket.ca
Toronto’s first chef-driven food hall, perfect for lunch or team outings, with a wide selection of seasonal
dishes and local brews.
2. Beerbistro restaurant and bar
Outdoor patio next to our Telsec building, 18 King St. E.
18 King Street East, Main Floor
Toronto
Omid Azad
info@beerbistro.com
Tel: 416-861-9872
www.beerbistro.com
3. CONVIVIUM DINING – HIGH-END (SOME TABLES BACK ONTO OUTDOOR COURTYARD)
Courtyard backs onto our Telsec building, 18 King St. E.
83 Yonge Street
Toronto
Soumini Agate
sa@myconvivium.com
General Manager
Sarah Watson
sw@myconvivium.com
Floor Manager
Tatiana Frelik (Events)
tf@myconvivium.com
Tel: 416-691-9909
www.myconvivium.com
4. RESTAURANT 20 VICTORIA – MICHELIN 2025 APPROVED
20 Victoria Street
Toronto
Declan
20vicreservations@gmail.com
Tel: 416-804-6066
Instagram for reservations: https://www.instagram.com/twentyvictoria/
5. JOEY KING STREET
20 King Street West
Toronto
Nora Elhanafy
nelhanafy@joeyrestaurants.com
Tel: 647-678-5639
www.joeyrestaurants.com
If you want to wow your business partners or clients, then grab and go from this contemporary dining
spot with a menu featuring international and regional dishes. Order their upscale east like sushi, salads,
steaks or that wagyu beef carpaccio. Yum!
6. DACASTO (take out)
37 King Street East
Toronto
Enrico Dacasto
enrico@dacasto.com
Tel: 416-214-0986
www.dacasto.com
7. DEB BREAKFAST. CO (take out)
20 Toronto Street
Toronto
Sade Henry
torontostgm@eatdeb.com
Tel: 347-880-8291
www.torontostgm.com
8. THE POKE BOX (take out)
36 Toronto Street
Toronto
Jeremy
info@thepokebox.ca
Tel: 416-929-0363
www. thepokebox.ca
For business teams that love to indulge but want to feel good about it, consider ordering from The Poke
Box. Their individual boxed meals are prepared with fresh ingredients and packed with protein! Great
for sushi lovers but without a mess.
9. CARISMA (ITALIAN)
15 Toronto Street
Toronto
Michael Pagliaro
info@carismarestaurant.com
Tel: 416-864-7373
www.carismarestaurant.com
10. NAMI (JAPANESE)
55 Adelaide Street East
Toronto
Mana
namirestaurant1984@gmail.com
Tel: 416-362-7373
www.namirestaurant.ca
11. TERRONI (ITALIAN)
57 Adelaide Street East
Toronto
Patti Shaw
info@terroni.com
Tel: 416-203-3093
www.terroni.com
12. SWAAGAT – THE REAL TASTE OF INDIA
36 King Street East
Toronto
swaagattoronto@gmail.com
Tel: 647-943-9754
13. WOODS RESTAURANT AND BAR
45 Colborne Street
Toronto
Robin Singh
info@woodsrestaurant.ca
Tel: 416-214-9918
www.woodsrestaurant.ca
14. aKin – Michelin 2025 approved
51 Colborne Street
Toronto
Mike Birdsey, Genral Manager
Eric Chong, chef + owner
info@atkintoronto.com
Tel: 416-363-0151
www.atkintoronto.com
aKin is a modern Asian-inspired fine dining restaurant located in the heart of Toronto. Offering a
meticulously curated 10-course blind tasting menu that highlights local and seasonal ingredients, with
influences from diverse Asian cuisines.
15. CANTINA MERCATTO
20 Wellington Street East
Toronto
Niam H
info@cantinamercatto.ca
Tel: 416-304-0781
www.cantinamercatto.ca
16. UNCLE TONY’S
38 Wellington St E
Toronto
Siva Sathasivam
uncletonyssiva@gmail.com
Tel: 416-455-6650
https://uncletonys.ca/
17. FRESH KITCHEN + JUICE BAR – vegan restaurant
47 Front Street East
Toronto
Lindsey Dauilmar
ldavilmar@recipeunlimited.com
Tel: 647-693-7556
www.freshkitchens.ca
This plant-based restaurant is so good you won’t even miss meat. It’s a great choice for delicious and
health-conscious food and a top pick for those with dietary restrictions. Choose from their lunch and
dinner menu or opt for their takeout bundles and get appetizers and entrees for multiple people.
18. THE FLAT IRON: A FIRKIN PUB
49 Wellington Street East
Toronto
JC Trujillo
Jctrujillo3@gmail.com
Tel: 647-561-7224, 416-362-3444
www.firkinpubs.com/theflatiron
If your team likes pub grub, then the Firkin’s traditional English food is for you. Order from their party
platter menu for large groups, which includes all your classic pub favourites like fish and chips, sliders,
skewers, tacos, nachos, charcuterie boards and more.
19. SCORE ON KING (Sports Bar)
Outdoor Patio + Heated
Church & King
107 King Street East
Toronto
Tel: 416-519-4654
www.scoreonking.com
20. RESTAURANT LUCIE
100 Yonge Street
Toronto
info@restaurantlucie.com
Tel: 416-788-9054
www.restaurantlucie.com
21. PIZZAIOLO
(no e-mail)
104 Yonge Street
Toronto
Tel: 416-860-0700
www.pizzaiolo.ca
Restaurants
1. Ryan Halsall
CRAFT BEER MARKET (OUTDOOR COURTYARD)
Courtyard backs onto our Telsec building, 18 King St. E
1 Adelaide St E (enter on east side of Yonge St., south of Adelaide)
Toronto, ON
M5C 2V9
Tel: 437-922-BEER (2337)
Website: www.craftbeermarket.ca
2. Michael Pagliaro
Carisma (Italian)
15 Toronto Street
Toronto, ON
M5C 2E3
Tel: 416-864-7373
Website: www.carismarestaurant.com
3. Patti Shaw
Terroni (Italian)
57 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-203-3093
Website: www.terroni.com
4. Declan
Restaurant 20 Victoria – Michelin guide approved
20 Victoria Street
Toronto, ON
M5C 2A1
Tel: 416-804-6066
Instagram for reservations: https://www.instagram.com/twentyvictoria/
5. Mana
Nami (Japanese)
55 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-362-7373
Website: www.namirestaurant.ca
6. Restaurant Lucie
100 Yonge Street
Toronto, ON
M5C 2W1
Tel: 416-788-9054
Website: www.restaurantlucie.com
7. Niam H
Cantina Mercatto
20 Wellington Street East
Toronto, ON
M5E 1C5
Tel: 416-304-0781
Website: www.cantinamercatto.ca
8. Siva Sathasivam
Uncle Tony’s
38 Wellington St E
Toronto, ON
M5E 1C7
Tel: 416-455-6650
Website: https://uncletonys.ca/
9. Pizzaiolo
104 Yonge Street
Toronto, ON
M5C 2Y6
Tel: 416-860-0700
Website: www.pizzaiolo.ca
10. Robin Singh
Woods Restaurant and Bar
45 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-214-9918
Website: www.woodsrestaurant.ca
11. Amadeusz Domyslawski
GUSTO 501
501 King St. E
Toronto, ON
M5A 1L9
Tel: 416-477-5647
Website: www.gusto501.com
Health and Wellness
1. Thom Tullo
Morpheus8 by Inmode
47 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-863-6564
Website: www.amanspa.ca
2. Altitude Athletic Training
56 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-366-3838
Website: www.altitudeathletictraining.com
3. Physioheath Studios
33 Victoria Street, #130
Toronto, ON
M5C 2A1
Tel: 416-368-2525
Website: www.physiohealth.com
Hotels
1. Jennifer Smith
General Manager
The Omni King Edward Hotel
37 King Street East
Toronto, ON
M5C 1E9
Tel: 416-863-9700
Website: https://www.omnihotels.com/hotels/toronto-king-edward
2. Mark Perry
General Manager
Executive Hotels and Resorts (Boutique)
8 Colborne Street
Toronto, ON
M5E 1E1
Tel: 416-350-2419
Website: www.spazen.ca or www.cosmotoronto.com
3. Emeline Boul
General Manager
Hotel Victoria (Boutique)
56 Yonge Street
Toronto, ON
M5E 1G5
Tel: 416-363-1666
Mobile: 647-574-5832
Website: www.hotelvictoriatoronto.com
4. Omkar Sawant
Reservations Manager
One King West Hotel
1 King Street West
Toronto, ON
M5H 1A1
Main: 416-548-8100
Reservations: 1-866-470-5464
Website: www.onekingwest.com
5. Van Nguyen
General Manager
Cambridge Suites Toronto
15 Richmond Street East
Toronto, ON
M5C 1N2
Direct: 416-601-3757
Hotel: 416-368-1990
Website: www.cambridgesuitestoronto.com
We are by far the most experienced and best coworking team in the market – established in 1980
18 King Street East, Suite 1400
Toronto, Ontario M5C 1C4 Canada
Please check out our 70 second video, click below:
Take a look at our facilities www.telsec.net
Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.
You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.