Entrepreneurship and Small Business Management Review
Entrepreneur - -Someone who takes a risk in
starting a business to earn a profit. Proprietorship - -a business owned and run by
just one person
Entrepreneurship - -The process of starting,
organizing, managing, and assuming the Partnership - -a business owned and controlled
responsibility for a business. by two or more people who have entered into a
written agreement
Venture Capital - -Money provided by large
investors to finance new products and new business Corporation - -a separate legal entity formed by
that have a good chance to be very profitable. documents filed with your state. it is owned by one or
more shareholders and managed by a board of
directions
Innovation - -an invention or creation that is
brand new.
Franchise - -a written contact granting
permission to operate a business to sell products and
Improvement - -a designed change that services an in a set way
increases the usefulness of a product, service, or
process.
Partnership agreement - -a written argument
among all owners detailing the rules an produces the
Small Business - -an independent business guide ownership and operations
with fewer than 500 employees
Articles of incorporation - -a written legal
Small Business Administration (SBA) - -a document that defines ownership and operating
government agency that helps small businesses procedures and conditions for the business
plans and obtain financing and other support for their
companies
Family and Friends - -Most entrepreneurs get
money to start of their business from these people
Business Plan - -a written description of the
business idea and how it will be carried out,including
all major business activites Service Businesses - -Most small businesses in
the US are ______________
Start-up financing - -the amount of money
needed to open the business Adequate Records - -Most small businesses
fail because they do not keep
________________________
Short-term financing - -the money needed to
pay for the current operating activities of a business
Coming up with an idea - -The most important
step in starting up a business is ________________
Long-term financing - -the money needed for
the main resources of a business
10 percent - -Nearly ________ percent of all
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Entrepreneur - -Someone who takes a risk in
starting a business to earn a profit. Proprietorship - -a business owned and run by
just one person
Entrepreneurship - -The process of starting,
organizing, managing, and assuming the Partnership - -a business owned and controlled
responsibility for a business. by two or more people who have entered into a
written agreement
Venture Capital - -Money provided by large
investors to finance new products and new business Corporation - -a separate legal entity formed by
that have a good chance to be very profitable. documents filed with your state. it is owned by one or
more shareholders and managed by a board of
directions
Innovation - -an invention or creation that is
brand new.
Franchise - -a written contact granting
permission to operate a business to sell products and
Improvement - -a designed change that services an in a set way
increases the usefulness of a product, service, or
process.
Partnership agreement - -a written argument
among all owners detailing the rules an produces the
Small Business - -an independent business guide ownership and operations
with fewer than 500 employees
Articles of incorporation - -a written legal
Small Business Administration (SBA) - -a document that defines ownership and operating
government agency that helps small businesses procedures and conditions for the business
plans and obtain financing and other support for their
companies
Family and Friends - -Most entrepreneurs get
money to start of their business from these people
Business Plan - -a written description of the
business idea and how it will be carried out,including
all major business activites Service Businesses - -Most small businesses in
the US are ______________
Start-up financing - -the amount of money
needed to open the business Adequate Records - -Most small businesses
fail because they do not keep
________________________
Short-term financing - -the money needed to
pay for the current operating activities of a business
Coming up with an idea - -The most important
step in starting up a business is ________________
Long-term financing - -the money needed for
the main resources of a business
10 percent - -Nearly ________ percent of all
1/2
