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Chapter 6

TermDefinition
Entrepreneur Someone who takes a risk in starting a business to earn profit.
Entrepreneurship The process of starting, organizing, managing, and assuming the responsibility for a business.
Venture Capital Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.
Innovation Invention or creation that is brand new.
Improvement A design change that increases the usefulness of a product, service, or process.
Small Business An independent business with fewer than 500 employees.
SBA(Small Business Administration) A government agency that helps small business develop plans and obtain financing and other support for their companies.
Business Plan A written description of the business idea and how it will be carried out, including all major business activities.
Start-up Financing The amount of money needed to open the business.
Short-term Financing The money needed to pay for current operating activities of a business.
Long-term Financing Money needed for main resources of business that will last for many years.
Inventory Products or raw materials on hand.
Created by: cruz.umphrey0213
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