enterprise – a business or company

(Pronounced en-tuh-prize)

To remember what enterprise means use the following mnemonic:

I entered the prize (enterprise) draw to win a brand new company.

Enterprise is another name for business, the words can be interchangeable. However, an enterprise is normally associated with a business recently set up by an entrepreneur. This entrepreneur has recently identified a potentially profitable business idea and opportunity. The entrepreneur is willing to take the risks to bring these ideas to fruition by starting this new company.