Intro to Business Chapter 6 Vocab

entrepreneur

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

entrepreneurship

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

venture capital

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

innovation

an invention or creation that is brand name

improvement

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

small business

an independent business with fewer than 500 employees

small business administration (sba)

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

business plan

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

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

short term financing

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