Intro. Bus.
Terms
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- Entrepreneurship
- the process of starting, organizing, managing, and assuming the responsibility for a business
- Short-term financing
- the money needed to pay for the current operating activites of a business
- Entrepreneur
- someone who takes a risk in starting a business to earn a profit
- Long-term financing
- money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years
- innovation
- an invention or creation that is brand new
- Small Business Administration
- a government agency that helps small business owners develop business plans and obtaion finanacing and other support for their companies
- Business plan
- a written description of the business idea and how it will be carried out, including all major business activities
- Start-up financing
- the amount of money needed to open the business
- improvement
- a designed change that increases the usefulness of a product, service, or process
- Venture capital
- money provided by large investors to finance new products and new businesss that have a good change to be very profitable
- Small business
- an independent business with fewer than 500 employees