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intro2bus6
Intro to Business Chapter 6
| Question | Answer |
|---|---|
| entrepreneurial team | A group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product. |
| micropreneurs | Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle. |
| affiliate marketing | An Internet-based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer the affiliate sends to its Web site. |
| intrapreneurs | Creative people who work as entrepreneurs within corporations. |
| enterprise zones | Specific geographic areas to which governments try to attract private business investment by offering lower taxes and other government support. |
| incubators | Centers that offer new businesses low-cost offices with basic business services. |
| small business | A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size (set by the Small Business Administration) in terms of employees or annual receipts. |
| business plan | A detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owner(s). |
| Small Business Administration (SBA) | A U.S. government agency that advises and assists small businesses by providing management training and financial advice and loans. |
| Small Business Investment Company (SBIC) Program | A program through which private investment companies licensed by the Small Business Administration lend money to small businesses. |
| Guaranteed loans | loans made by a financial institution that the government will repay if the borrower stops making payments. The maximum individual loan guarantee is capped at $1 million. |
| Microloans | amounts ranging from $100 to $35,000 (average $10,500) to people such as single mothers and public housing tenants. |
| Export Express | loans made to small businesses wishing to export. The maximum guaranteed loan amount is $250,000. |
| Community Adjustment and Investment Program (CAIP) | loans to businesses to create new, sustainable jobs or to preserve existing jobs in eligible communities that have lost jobs due to changing trade patterns with Mexico and Canada following the adoption of NAFTA. |
| Pollution control loans | loans to eligible small businesses for the financing of the planning, design, or installation of a pollution control facility. The maximum guaranteed loan amount is $1 million. |
| 504 certified development company (CDC) loans | loans for purchasing major fixed assets, such as land and buildings for businesses in eligible communities, typically rural communities or urban areas needing revitalization. The maximum guaranteed loan amount is $1.3 million. |
| market | People with unsatisfied wants and needs who have both the resources and the willingness to buy. |
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