460 IAC 14-13-1 - Definitions
Authority: IC 12-8-8.5-4; IC 12-9-2-3; IC 12-9-5-1; IC 12-9-5-3
Affected: IC 12-9-5; IC 12-12-1
Sec. 1.
The following definitions apply throughout this rule:
(1) "Initial start-up costs" means those
costs that are necessary to establish a business, initiate its business
operations, and sustain such operations throughout a start-up period until the
business is stable and self-supporting.
(2) "Ongoing operating costs" means the costs
of continuing business operations after termination of the start-up
period.
(3) "Small business
operation" means an employment outcome consisting of the practice of a
profession, trade, craft, or other skill performed in a business setting:
(A) that:
(i) is an independently owned and operated
business;
(ii) is the eligible
individual's primary employment and primary source of earned income;
(iii) markets its products or services to
customers; and
(iv) is determined
to have a reasonable potential for becoming a successful self-sustaining
business; and
(B) in
which the individual is:
(i) a full or part
owner of the business; and
(ii)
directly engaged in and responsible for the ongoing management or management
and daily operation of the business.
(4) "Start-up period" means the period of
time required to establish the business and fund business operations from the
date on which actual business operations begin until the earliest of the ending
date specified by the individualized plan for employment or the date on which
the revenues generated by the business equal or exceed the ongoing operating
costs of the business for the third consecutive month.
Notes
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