Chapter 6- Entrepreneurship And Starting A Small Business Flashcards
Entrepreneurship
Accepting the rush of starting and running a business.
Entrepreneurial team
A group of experienced people from different areas of business who get together and form a managerial team w the skills needed to develop make and market a new product.
Micropreneurs
Entrepreneurs take risk and accept business will remain small, allowing them to do the work they want with a balanced lifestyle.
Mainly home based
Affiliate marketing
Online marketing strategy; business rewards people/businesses(affiliates) per visitor or customer they bring to the site.
Intrapreneurs
Creative people working as entrepreneurs within a corporation.
Enterprise zones
Geographic areas where’d governments attract private business investment by low taxes and other government support.
Incubators
Centers that offer new businesses low cost offices with basic business services.
Small business
A business independently owned and operated, is not dominant in its field of operation but meets standard of size (set by SBA) regarding employees and annual receipts.
Business plan
A detailed written statement describing the nature of the business, target market, advantage over competition, and RSS/ qualifications of owners.
Venture capitalists
Individuals or companies who invest in new businesses for partial ownership
Small business administration SBA
U.S government agency advise and assist small businesses providing management training, financial advice and loans.
Small business investment company program SBIC
A program where private investment companies loan money to small businesses (licensed through SBA)
Market
People w unsatisfied wants and needs who have RSS and willingness to buy.
Service corps of retired executives SCORE
SBA office with volunteers from industry trade association and education counsel small businesses for free.
