Someone who takes a risk in starting a business to earn a profit
What is an entrepreneur?
100
an independent business with fewer than 500 employees
What is a small business?
100
a written description of the business idea and how it will be carried out
What is a business plan?
100
every business begins with this
What is an idea?
100
amount of new businesses created each year
What is 500,000
200
process of starting, organizing, managing, and assuming the responsibility for a business
What is entrepreneurship?
200
an action done for pay by someone else
What is a service?
200
amount of money needed to open the business
What is start-up financing?
200
money needed for important long-lasting resources of a company
What is long-term finance?
200
money provided by large investors
What is venture capital?
300
money provided by large investors to finance new products and new businesses that have a good change to be very profitable
What is venture capital?
300
a product given to a consumer for pay
What are goods?
300
money needed to pay for the current operating activities of a business
What is short-term financing?
300
attention to unique customer needs
What is a small business advantage?
300
reason for business failure
What are lack of adequate capital, law sales, higher than expected expenses, competitive pressure, an owner unprepared to manage a growing business, or operations requiring more time than the owner is willing to commit?
400
an invention or creation that is brand new
What is innovation?
400
selling of goods by someone who is not a producer
What is retail?
400
money needed for the main resources of a business that will last for many years
What is long-term financing?
400
poor customer credit practices, lack of experience, and poor business location
What are reasons for small business failure?
400
percentage of new business owners without employees
What is 40%
500
a design change that increases the usefulness of a product, service, or process