business 100 chapter 5 part 2

  1. Small business administration (SBA)
    a governmental agency that assists, counsels, and protects the interests of small businesses in the United States
  2. Service Corps of retired executives (SCORE)
    a group of business people who volunteer their services to small businesses through the SBA
  3. Small-business industries (SBIs)
    a group of senior and graduate students inj business administration who porvide managemnet counseling to small businesses
  4. Small-Business development centers (SBDCs)
    university-based groups that provide individual counseling and practical training to owners of small businesses
  5. venture capital
    money that is invested in small (and sometimes struggling) firms that have the potential to become very succesful
  6. Small-business investment Companies (SBICs)
    privately owned firms that provide venture capital to small enterprises that meet their investment standards
  7. franchise
    a license to operate an individually owned business as though it was a part of a chain of outlets or stores
  8. franchising
    the actual grant of a franchise
  9. frachisor
    an individual or organization granting a franchise; or selling
  10. franchisee
    a person or organization purchasing a franchise
  11. dual-branded franchises
    two franchisors offer their products together
  12. advantages of franchising (to the franchisor)
    gains fast and well-controlled distribution of its products without incurring the high cost of constructing and operating its own outlets
  13. advantages of franchising (to the franchisee)
    gets the opportunity to start a business with limited capital and to make use of business experience of others
  14. disadvantages of franchising
    affects the franchisee, and it arises because the franchisor retains a great deal of control
Card Set
business 100 chapter 5 part 2
business 100 chapter 5 part 2