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Business Concepts

Chapter 6 terms

TermDefinition
Business Plan A written description of the business idea and how it will be carried out.
Entrepreneur Is someone who takes a risk in starting a business to make a profit
Entrepreneurship Is the process of starting, organizing, managing, and assuming the responsibility
Improvement The designed change that increases the usefulness of a product
Innovation Invention or creation that is brand new
Long-Term Financing Is money needed for the main resources of a business
Short-Term financing The money needed to pay for operating activities of a business
Small business Is a independent business with less the 500 employees
Small Business Administration (SBA) Is a government agency that helps small business owners.
Start-up financing The amount of money needed to start a business
Venture capital Money provided by large investors to finance new products
Created by: drizdon
Popular Business sets

 

 



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