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