Entrepreneurship
someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it.
Entrepreneur
independently owned and operated, exerts little influence in its industry, and (with a few exceptions) has fewer than five hundred employees
Small Business
The business plan is a plan or _____ for the company
Blueprint
A government agency that provides assistance to small businesses
Small Business Administration (SBA)
_____ of all U.S. adults either are self-employed or work for businesses with fewer than five hundred employees
half
The ______ is a one- to three-page overview of the business plan
Executive Summary
the three characteristics of entrepreneurship are
Innovation, Running a business, and risk-taking
Name 2 contributions of small businesses to the economy
Creates jobs, Sparks innovation, creates opportunities
This portion of the business plan states the company’s mission statement and core values.
Mission Statement and Core Values
someone who is exceptionally creative in bringing up new business ideas
Serial Entrepreneur
A strong economy encourages individuals to
start small businesses or expand existing small companies
This section of the management plan describes the relationships among individuals within the company, listing the major responsibilities of each member of the management team
Organizational Structure
four reservations (or fears) that prevent people from starting businesses
Money, Security, competition, lack of ideas
Name 4 small business owners who now own large corporations
Sam Walton, Henry Ford, Bill Gates, Steve Jobs, Michael Dell, Steve Case, Pierre Omidyar, Larry Page, Sergy Brin
A general or typical business plan include how many sections?
10-11