Ch 6 Entrepreneurship-Intro Bus

The part of a business plan that discusses the industry characteristics and the condition of the economy.

• Improvement
• Description of competition
• Venture capital

A designed change that increases the usefulness of a product or service.

• Improvement
• Innovation
• Inventory

Money needed for the main resources of a business that will last for many years.

• Short-term financing
• Venture capital
• Long-term financing

Products or raw materials a business keeps on hand.

• Inventory
• Customer analysis
• Description of competition

The part of a business plan that discusses sales forecasts and the location and number of potential patrons.

• Service Corps of Retire Executives
• Small Business Administration
• Customer analysis

A group of retired local businesspeople who volunteer their services to counsel and mentor new business owners.

• Small Business Administration
• Service Corps of Retired Executives
• Description of competition

Money needed to pay for the current operating activities of a business.

• Short-term financing
• Long-term financing
• Inventory

Money provided by large investors to finance new products and new business.

• Short-term financing
• Long-term financing
• Venture capital

An invention or creation that is brand new.

• Inventory
• Innovation
• Venture capital

A government agency that helps entrepreneurs develop business plans and obtain financing.

• Small Business Administration
• Service Corps of Retired Executives
• Customer analysis