CHAPTER 6:ENTREPRENEURSHIP & SMALL BUSINESS

entrepreneur

a person who organizes and operates an enterprise, especially a business with risks and considerable initiative.

entrepreneurship

the development of a business from the ground up coming up with an idea and turning it into a profitable business

venture capital

capital invested in a project in which there is a substantial element of risk, typically a new or expanding business

innovation

the process of innovating or change;alteration

improvement

the action of improving or being improved

business plan

a formal statement business goals, reasons, and plans for the business

start-up financing

the money required to start a new business often referred to as "seed money

short term financing

usually refers to loans given in the first twelve months

long term financing

capital extended for a term greater than a year