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Biz-6-Be an Entrep

Business-Chapter 6-Becoming an Entrepreneur

Who is someone who takes a risk in starting a business to earn a profit? Entrepreneur
What us the process of starting, organizing, managing, and assuming the responsibility for a business? Entrepreneurship
What is money provided by large investors to finance new products and new businesses that have a good chance to be very profitable? Venture Capital
What is an invention or creation that is brand new? Innovation
What is a designed change that increases the usefulness of a product, service, or process? Improvement
What is SBA? Small Business Administration
What is an independent business with fewer than 500 employees? Small Business
What is a government agency that helps small business owners develop business plans and obtain financing and other support for their companies? Small Business Administration
What is SCORE? Service Corps of Retired Executive
What is a written despcription of the business idea and how it will be carried out, including all major business activities? Business Plan
What is the amount of money needed to open the business? Start-up Financing
What are products or raw materials on hand? Inventory
What is the money needed to pay for the current operating activities of a business? Short-term Financing
What is money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years? Long-term Financing
Created by: Mrs. Waara (PHS)