micro-enterprise test 2 Flashcards
internet phenomenon, strangers learn about a business online, decide to make investment or not
crowdfunding
amount an insurance makes a policy holder pay as part of any claim
deductible
failure to repay loan
defualt
commitment to get something done
determination
Distinguishing a product or service “different than anything else’ attracting customers, generating sales and serving as the foundation for thriving business.
differentiated
Money paid by a company to a person who owns stock in that company. optional, typically paid every three months.
dividend
A clear, concise and compelling way to describe a business or new business concept in 30 seconds
elevator speech
Open ended questions that prompt more than a “yes” or “no” answer.
engaging question
Funds contributed by investors to a business
equity (or Capital)
Understanding how individuals and businesses earn money and what they spend money on.
financial literacy
12-month period a company uses to report financial reports
fiscal year
Costs that do not vary based on the units sold by the enterprise
fixed costs
computer portal offered by the Louisiana Secretary of State that enables the entrepreneurs to go to a single source to learn which forms they need to file, the forms required by the Secretary of State, and to determine which other government agencies they need to interact with.
GeauxBIZ Portal
An individual’s self-commitment to overcome obstacles to achieve long-term goals
grit
credit-worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debt-holder can’t make a required payment.
guarantor
special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire.
Individual Retirement Account (IRA
Debt owed to someone that is paid monthly.
Installment Payments
amount of money an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss.
Insurance Claim
individual or business that purchases an insurance policy for various types of protection.
Insurance Policyholder
amount a policyholder pays for an insurance policy.
Insurance Premium
- Non-physical assets created by individuals or companies that hold exclusive legal right to commercialize.
Intellectual Property
Give the author the sole right to benefit economically from what he/she wrote.
copyright
Gives the inventor the sole right to benefit commercially from his/her invention.
patent
Gives the registering individual or company the sole right to benefit from a brand or image he/she created.
trademark
