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Chapter 6

QuestionAnswer
What term means, someone who take a risk in starting a business to earn a profit? Entrepreneur
What term means, the process of starting, organizing, managing, and assuming the responsibility for a business? Entrepreneurship
What term means, money provided by large investors to finance new products and new businesses that have a good chance to be very profitable? Venture Capital
What term means, an invention or creation that is brand new? Innovation
What term means, a designed change that increases the usefulness of a product, service, or process? Improvement
What term means, an independent buisness with fewer than 500 employees? Small Business
What term means, a government agency that helps small business owners develop buisness plans and obtain financing and other support for their companies? Small Business Administration
What play a vital role in the economy? Small Businesses
Small businesses are especially suited to provide unique services for whom? Customers
Who owns over one-fourth of all small businesses? Women
What term means, a written description of the business idea and how it will be carried out, including all major business activities? Business Plan
What term means, the amount of money needed to open the business? Start-up Financing
What term means, the money needed to pay for the current operating activities of a business? Short term Financing
What term means, money needed for the main resources of a business that will last for many years? Long term Financing
Many small business owners are quite what? Independent
Created by: jacobsen616
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