Business: Chapter 5

  1. Small Business
    one that is independently owned and operated for profit and is not dominant in its field
  2. Business Plan
    a carefully constructed guide for the person starting a business
  3. Small Business Administration (SBA)
    a government agency that assists, counsels, and protects the interests of small businesses in the United States
  4. Service Corps of Retired Executives (SCORE)
    a group of retired businesspeople who volunteer their services to small businesses through the SBA
  5. Small-Business Institutes (SBIs)
    groups of senior and graduate students in business administration who provide management counseling to small businesses
  6. Small-Business Development Centers (SBDCs)
    university-based groups that provide individual counseling and practical training to owners of small businesses
  7. Venture Capital
    money that is invested in small (and sometimes struggling) firms that have the potential to become very successful
  8. Small-Business Investment Companies (SBICs)
    privately owned firms that provide venture capital to small enterprises that meet their investment standards
  9. Franchise
    a license to operate an individually owned business as though it were part of a chain of outlets or stores
  10. Franchising
    the actual granting of a franchise
  11. Franchisor
    an individual or organization granting a franchise
  12. Franchisee
    a person or organization purchasing a franchise
Card Set
Business: Chapter 5
Business: Chapter 5