Intro to Business Chapter 6 Vocab

small business

an independent business with fewer than 500 employees

innovation

an invention or creation that is brand name

venture capital

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

entrepreneur

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

start-up financing

the amount of money needed to open the business

short term financing

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

entrepreneurship

the process of starting, organizing, and assuming the responsibility for a business

business plan

a written description of the business idea and hot it will be carried out, including all major business activities

improvement

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

small business administration (sba)

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