Intro to business-Chap 6 Entrepreneur – Flashcards
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Entrepreneur
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Some one who takes risks in starting a business to earn a profit.
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Entrpreneurship
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Process of starting, organizing, managing, and assuming the responsibility for a business.
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Venture Capital
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Money provided by large invaders to finance new products and new businesses that have a good chance to be very profitable.
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Innovation
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invention or creation
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Improvement
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Designed change that increases the use and fullness of a product, service, or process.
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small business
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an independent business with fewer than 500 employees.
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The Small Business Administration
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government agency that helps small business owners devolp business plans and obtain financing and other support for their companies.
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Business plans
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Writtten description of the business idea and how it will be carried out, including all major business activities.
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Start-up financing
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Amount of money needed to open the business.
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Short-Term financing
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money needed to pay for the current operating activities of a business.
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Long-Term financing
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Money needed for the main reasources of a business.
