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Business Foundations Chapter 6
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What is a person who takes a risk in starting a business to earn a profit called?
an entrepreneur
What is the process of starting, organizing, managing and assuming the responsibility for a business?
entrepreneurship
What is money provided by large investors to finance new products and new businesses that have a good chance to be very profitable?
venture capital
What is an invention or creation that is brand new?
an innovation
What is a designed change that increases the usefulness of a product, service, or process?
improvement
What is an independent business with fewer than 500 employees?
a small business
What is a government agency that helps small business owners develop business plans and obtain financing and other support for their companies?
SBA (Small Business Administration)
What is a written description of the business idea and how it will be carried out, including all major business activities?
a business plan
What is the amount of money needed to open a business?
start-up financing
What is the money needed to pay for the current operating activities of a business?
short-term financing
What is money needed to pay for the main resources of a business that will last for many years?
long-term financing
True or False: An entrepreneur has a real desire to be their own boss.
true
Are young entrepreneurs divided equal between men & women?
yes
About how many women own their own business?
about 6 million
How many new businesses are created in the US every year?
.5 million
Author
knm8483
ID
51409
Card Set
Business Foundations Chapter 6
Description
Entrepreneurship
Updated
2010-11-23T22:31:58Z
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