Items of value owned by the business.

Cash that is set aside for unexpected needs of the business.

The ongoing expenses resulting from the operation of the business.

Cooperatives formed by labor unions or employees for the benefit of the members.

Willing and able to repay a debt.

Sources of funding that require the money borrowed to be paid back with interest.

Capital sources that trade cash for some portion of ownership in the business; sometimes called risk capital because the investor puts his/her money at risk.

The cost of doing business; all business expenses except the cost of goods sold.

Expenses that remain the same for a period of time; must be paid regardless of the quantity of a good or service produced/sold.

Operated by the government to provide technical assistance, counseling, grants, or other means of financial assistance at low-interest rates.

Agreements made by a bank to lend money at a stated interest rate whenever the owner needs it. A fee is charged for the privilege whether the money is used or not, and interest is charged on any money that is used.

Borrowed money that is repayable over a period longer than a year.

The monetary value of the business; assets minus liabilities.

Expenses incurred by the entrepreneur for goods and services for personal use rather than for use in the business.

Private investors (angels)

Wealthy individuals functioning as non-professional investors who are willing to invest in local businesses for financial or emotional reasons and who sometimes prefer to remain anonymous.

A plan indicating how and when debts of the business will be paid.

A loan that is backed by collateral.

Borrowed money that must be repaid within one year.

One-time expenses an entrepreneur incurs when starting a business.

State-sponsored venture capital funds

Funds provided to entrepreneurs by the state in an effort to encourage economic development and creation of jobs.

Short-term financing that allows an entrepreneur credit from vendors within the business’s industry or trade.

A loan that is not guaranteed by collateral.

Expenses that may change from month to month depending on the needs of the business; costs that increase and decrease with the quantity of the good or service produced/sold.

Individuals or firms that invest money professionally to make money, expect a large capital gain, and look for high growth potential.

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Small Biz unit 4.

Vocab 4

Question	Answer
Assets	Items of value owned by the business.
Contingency fund	Cash that is set aside for unexpected needs of the business.
Continuing costs	The ongoing expenses resulting from the operation of the business.
Credit unions	Cooperatives formed by labor unions or employees for the benefit of the members.
Credit-worthy	Willing and able to repay a debt.
Debt sources	Sources of funding that require the money borrowed to be paid back with interest.
Equity sources	Capital sources that trade cash for some portion of ownership in the business; sometimes called risk capital because the investor puts his/her money at risk.
Expenses	The cost of doing business; all business expenses except the cost of goods sold.
Fixed costs	Expenses that remain the same for a period of time; must be paid regardless of the quantity of a good or service produced/sold.
Government agencies	Operated by the government to provide technical assistance, counseling, grants, or other means of financial assistance at low-interest rates.
Liabilities	Debts owed by the business.
Lines of credit	Agreements made by a bank to lend money at a stated interest rate whenever the owner needs it. A fee is charged for the privilege whether the money is used or not, and interest is charged on any money that is used.
Long-term loan	Borrowed money that is repayable over a period longer than a year.
Net worth	The monetary value of the business; assets minus liabilities.
Personal expenses	Expenses incurred by the entrepreneur for goods and services for personal use rather than for use in the business.
Private investors (angels)	Wealthy individuals functioning as non-professional investors who are willing to invest in local businesses for financial or emotional reasons and who sometimes prefer to remain anonymous.
Repayment plan	A plan indicating how and when debts of the business will be paid.
Secured loan	A loan that is backed by collateral.
Short term loan	Borrowed money that must be repaid within one year.
Start up costs	One-time expenses an entrepreneur incurs when starting a business.
State-sponsored venture capital funds	Funds provided to entrepreneurs by the state in an effort to encourage economic development and creation of jobs.
Trade credit	Short-term financing that allows an entrepreneur credit from vendors within the business’s industry or trade.
Unsecured-loan	A loan that is not guaranteed by collateral.
Variable costs	Expenses that may change from month to month depending on the needs of the business; costs that increase and decrease with the quantity of the good or service produced/sold.
Venture capitalists	Individuals or firms that invest money professionally to make money, expect a large capital gain, and look for high growth potential.

Created by: 12259623

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