Chap 3 Vocab

a written document that describes all the steps necessary for opening and operating a successful business.

• Small Business Development Centers (SBDC)

• SCORE

• Business plan

• Exit strategy

a letter that introduces and explains an accompanying document or set of documents.

• Executive summary

• Cover letter

• Proforma Financial Statement

• Trade Associations

a short restatement of the report portion of a business plan.

• Executive summary

• Exit Strategy

• SCORE

• Business plan

a harvest strategy, or the way an entrepreneur intends to extract, or harvest, his or her money from a business after it is operating successfully.

• Small Business Development

• Exit strategy

• Small Business Administration (SBA)

• Cover letter

a financial statement based on projected revenues and expenses

• Trade Associations

• Statement of purpose

• SCORE

• Pro forma financial statement

a nonprofit association made up of working and retired business professionals who volunteer their time to provide small businesses and entrepreneurs with free, real-world advice and know-how.

• Trade Associations

• Small Business Administration (SBA)

• Business plan

• SCORE

an independent agency of the federal government that was created to provide support to entrepreneurs and small businesses

• Small Business Administration (SBA)

• Small Business Development Centers (SBDC)

• Cover letter

• Pro forma Financial Statement.

centers that provide technical assistance to small businesses and aspiring entrepreneurs.

• Business plan

• cover letter

• Small Business Administration

• Small Business Development Centers (SBDC)

a brief explanation of why the writer of a business plan is asking for a loan and an explanation of what he or she plans to do with the money.

• Statement of purpose

• Trade Associations

• Exit Strategy

• Executive summary

organizations made up of professionals in a specific industry.

• Executive summary

• SCORE

• Cover letter

• Trade Associations