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Business Tech

Entrepreneur Key Terms

TermDefinition
Entrepreneurship The process of starting and managing a business to generate profit.
Entrepreneur A person who started a business ready for the risks to make high profit.
Business plan A written document included all steps necessary to opening and operate a business.
Executive summary A brief overview or description of a business.
Risk Possibility of losing something.
Limited liability company Protects its owners from personal responsibility for its debts or liabilities.
Sole proprietorship Business owned by one person.
C Corporation The owners are taxed separately from corporation.
S corporation Pass income on to the shareholders and avoid federal corporate income taxes.
Partnership Business owned by 2 or more people.
Franchise Individual or group granted a right to operate the business using trademarks of the company.
Stock A share in the ownership of a company to raise money for both company and shareholders
Share Represent ownership of a company.
Stockholder A person invested money into company, owning shares of company's stock.
Dividend A payment a company can make to shareholders if it has made a profit.
Liability Something a person or company owes.
Limited liability Investors' and owners' private assets are not at risk if the company fails.
Unlimited liability Business owners who are legally liable for any debt their business might accrue
Stakeholders A person can make decision and activity of a company.
Aptitude A natural skill or a knowledge of business situation.
Skill Ability to understand business well to promote success of a company.
Created by: Sophmt
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