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Chaap 6

What is entrepreneur? someone who takes a risk in starting a business to earn a profit.
What is Entrepreneurship? is the process of smarting, oranganing, managing, and assuming the responsibility for a business.
What is Venture capital? money provided by large investers to finance new products and new business that have a good chance to be very profitable.
What is innovation? invention or creation that is brand new
What is improvement? designed change that increases the usefulness of a product, service, or process.
What is small business? is an independent business with fewer than 500 employees.
What is Small Business Administration? is 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 how it will carry out, including all major business activities.
What is Short-term financing? the money needed to pay for the current operating activities of a business.
What is Long-term financing? is money needed for the main resources of a business such as land, buildings, and equipment.
What is Start-up financing? is the amount of money needed to open the business.
Created by: Jessica Fudge



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