BUS 101 - Ch. 6

Sources of Start-up Capital

SBA and SBIC

Small Business Administration (SBA)

A U.S. government agency that advises and assits small businesses by providing mangement training and financial advice and loans.

Small Business (and Contributions to the Economy)

A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size (set by SBA) in terms of employees of annual reciepts.

Business Plan

A detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owner(s).

Entrepreneur

Accepting the risk of starting and running a business.

Service Corps of Retired Executives (SCORE)

An SBA office with volunteers from industry, trade associations, and education who counsel small businesses at no cost (except for expenses).

Intrapreneur

Creative people who work as entrepreneurs within corporations.

Micropreneur

Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work theyw ant to do, and offers them a balanced lifestyle.

Venture Capitalist

Individuals or comapnies that invest in new businesses in exchange for partial ownership of those businesses.