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Ch.6.

QuestionAnswer
What is an entrepreneur? Someone who takes a risk in starting a business to earn a profit.
What is an entrepreneurship? The process of starting, organizing, managing, and assuming the responsibility for a business.
What is a venture capital? Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.
What is an innovation? An invention or creation that is brand new.
What is an improvement? A designed change that increases the usefulness of a product, service, or process.
What is a small business? An independent business with fewer than 500 employees.
What is the Small Business Administration? A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
What is a business plan? A written description of the business idea and how it will be carried out, including all major business activities.
What is start up financing? The amount of money needed to open the business.
What is short term financing? the money needed to pay for the current operating activities of a business.
Created by: morgie.marie
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