Intro to business-Chap 6 Entrepreneur

Improvement

Designed change that increases the use and fullness of a product, service, or process.

Long-Term financing

Money needed for the main reasources of a business.

Venture Capital

Money provided by large invaders to finance new products and new businesses that have a good chance to be very profitable.

Entrpreneurship

Process of starting, organizing, managing, and assuming the responsibility for a business.

Entrepreneur

Some one who takes risks in starting a business to earn a profit.

The Small Business Administration

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

Innovation

invention or creation

Start-up financing

Amount of money needed to open the business.

Business plans

Writtten description of the business idea and how it will be carried out, including all major business activities.

small business

an independent business with fewer than 500 employees.

Short-Term financing

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