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Chad Keaton's Stack

Bussiness Concepts Chapter 6

QuestionAnswer
Business Plan A written description of the business idea and how it will be carried out, including all major business activities
Entrepreneur Someone who takes a risk in starting a business to earn a profit
Improvement is a designed change that increases the usefulness of a product, service, or process
innovation An invention or creation that is brand new
Long-Term Financing Is the money needed for the main resources of a business that will last for many years
Short-Term Financing Is the money needed to pay for the current operating activities of a business
Small Business An independent business with fewer than 500 employees
Small Business Administration (SBA) A government agency that helps small business owners develop business plans and obtain financing and support for their companies
Start Up Financing Is the amount of money needed to open the business
Venture Capital Is money provided by large investors to finance new products and new businesses that have a good change to b very profitable
Entrepreneurship Is the process of starting, organizing, managing, and assuming the responsibility for a business
Created by: ckeaton