intro to business chap. 6 ENTRE

short-term financing

is the money needed to pay for the current operating activites of a business.

long-term financing

is the money neeeded for the main resources of a business(such as land, buildings, and equipment)

entrepreneurship

is the process of starting,organizing,managing, and assuming the responsilibility for a business.

improvement

is a designed change that increases the usefulness of a product,service, or process.

small business administration(SBA)

is a government agency that helps small business owners develop business plans and obtain financing and other support for their companies.

business plan

is a written description of the business idea and how it will be carried out,including all major business activites.

small business

is an independent business with fewer than 500 employees.

innovation

is an invention or creation that is brand new.

venture captial

is money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.

entrepreneur

is someone who takes a risk in starting a business to earn a profit.

start-up financing

is the amount of money needed to open the business.