chapter 6
Terms
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- entrepreneurial team
- A group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product
- Service Corps of Retired Executives (SCORE)
- An SBA office with volunteers from industry, trade associations, and education who counsel small businesses at no cost (except expenses)
- Intrapreuneurs
- Creative people who work as entrepreneurs within corporation
- Business plan
- A detailed written statement that describes the nature of the business, the target market, the advantages the business will have relation to competition, and the rescources and qualifications of the owners
- Small business
- A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards ofsize in terms of employees or annual receipts
- Small Business Administration (SBA)
- A U.S. government agency that advises and assists small businesses by providing management training and financial advice and loans
- Microprenuers
- entrprenuers willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle
- Enterprise zones
- Specific geographic areas to which governments try to attract private business investment by offering lower taxes and other government support
- Entreprenuership
- Accepting the risk of starting and running a business
- Venture capitalists
- individuals or companiesthat invest in new businesses in exchange for partial ownership of those businesses
- Incubators
- Centers that offer new business low-cost offices with basic business services
- Small Business investment company (SBIC) Program
- A program through which private investment companies licensed by the Small Business Administration lend money to small businesses