Entrepreneur
Characteristics
Economy
Productivity
Financing
100
Someone who takes a risk in starting a business to earn a profit.
What is an Entrepreneur?
100
The process of starting, organizing, managing, and assuming the responsibilities for a business.
What is Entrepreneurship?
100
Money provided by large investors to finance new products and new businesses that have a good chance at being profitable.
What is Venture Capital?
100
An invention or creation that is brand new.
What is an Innovation?
100
A designed change that increases the usefulness of a product, service or process.
What is an Improvement?
200
An independent business with fewer than 500 employees.
What is a Small Business?
200
Government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
What is the Small Business Adminstration (SBA)?
200
A written description of the business idea and how it will be carried out.
What is a Business Plan?
200
The amount of money needed to open the business.
What is Start-Up Financing?
200
Money needed to pay for the current operating activities of a business.
What is Short-Term Financing?
300
Money needed for the important resources of a business (such as land, building, and equipment).
What is Long-Term Financing?
300
Where most of the money comes for a person to start a new business.
What is family and friends?
300
Besides family and friends or venture capitalists, another source of capital for a new business.
What are loans from banks?
300
The greatest percentage of businesses in the U.S.
What are small businesses?
300
Small businesses are responsible for this percentage of all new jobs.
What is 60 - 80%?
400
Two advantages of small business.
What is 1) meeting customer needs and 2) providing unique services?
400
Every business begins with a(n) ____________.
What is an idea?
400
Part of the business plan that discusses the industry characteristics and the condition of the economy.
What is the Description of Competition?
400
Nearly _____ percent of all Americans ages 18-64 are involved in some type of entrepreneurial activity.
What is 10%?
400
According to the SBA, a small business is an independent business with fewer than ____ employees.
What is 500?
500
The percentage of U.S. businesses owned by women. The answer is "more than _____ percent".
What is 25%?
500
The business idea, ownership structure, and the business's long-term goals are discussed in this section of a business plan.
What is the Description of the Business?
500
Most business plans are updated when?
What is annually?
500
The part of the business plan that discusses sales forecasts and the location, number and resources of customers.
What is the Customer Analysis?
500
The three steps in developing the business plan.
What is 1) gather and review information, 2) develop the "game plan", and 3) each section of the business plan should be written?
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