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Chapter 6 vocabulary
| Term | Definition |
|---|---|
| Entrepreneur | Someone who takes a risk in starting a business to earn a profit. |
| Entrepreneurship | The process of starting, organizing, managing, and assuming the responsibility for a business. |
| Venture capital | Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable. |
| Innovation | An invention or creation that is brand new. |
| improvement | A designed change that increases the usefulness of a product, service, or process. |
| Small business | An independent business with fewer than 500 employees. |
| SBA | A government 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 how 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. |
| long term financing | Money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years. |
| Inventory | A detailed account of a company's materials, supplies, and finished products. |
Created by:
marcosfernandez
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