PB - Chapter 6 Review

  Entrepreneur

• someone who takes a risk in starting a business to earn a profit
• is the process of starting, organizing, managing, and assuming the responsibility for a business
• money provided by large investors to finance new products and new businesses that have a good chance to be profitable
• a government agency that helps small business owners develop business plans and obtain financing and other support for their companies

  Entrepreneurship

• the amount of money needed to open the business
•  is the process of starting, organizing, managing, and assuming the responsibility for a business
• a government agency that helps small business owners develop business plans and obtain financing and other support for their companies
• invention or creation that is brand new

Venture Capital

• someone who takes a risk in starting a business to earn a profit
• money needed to pay for the current operating activities of a business
• money provided by large investors to finance new products and new businesses that have a good chance to be profitable
• a formal statement of business goals, reasons they are attainable, and plans for reaching them

Innovation

• the amount of money needed to open the business
• is the process of starting, organizing, managing, and assuming the responsibility for a business
• a government agency that helps small business owners develop business plans and obtain financing and other support for their companies
• invention or creation that is brand new

Improvement

• a design change that increases the usefulness of a product, service, or process
• is an independent business with fewer than 500 employees
• money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years
• money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years

Small business

• a design change that increases the usefulness of a product, service, or process
• is an independent business with fewer than 500 employees
• money provided by large investors to finance new products and new businesses that have a good chance to be profitable
• invention or creation that is brand new

Small Business Administration (SBA)

• someone who takes a risk in starting a business to earn a profit
• money needed to pay for the current operating activities of a business
• a government agency that helps small business owners develop business plans and obtain financing and other support for their companies
• invention or creation that is brand new

Business plan

• a design change that increases the usefulness of a product, service, or process
• is the process of starting, organizing, managing, and assuming the responsibility for a business
• money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years
• a formal statement of business goals, reasons they are attainable, and plans for reaching them

Start-up financing

• the amount of money needed to open the business
• money needed to pay for the current operating activities of a business
• a design change that increases the usefulness of a product, service, or process
• is the process of starting, organizing, managing, and assuming the responsibility for a business

Short term financing

• the amount of money needed to open the business
• money needed to pay for the current operating activities of a business
• money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years
• a formal statement of business goals, reasons they are attainable, and plans for reaching them