Chapter 5 Flashcards
A carefully constructed guide for the person starting a business
Business plan
Business that is independently owned and operated for profit and is not dominant in its field
Small business
A government agency that assists , counsels, and protects the interests of small businesses in the United States
Small business administration
A group of business people who volunteer their services to small businesses through the SBA
service Corps of Retired Executives (SCORE)
SBA
Small business association- a government agency that assists counsels and protects the interests of small businesses in the United States
SCORE
Service corps of retired executives
A group of buisiness people who volunteer their services to small businesses through the SBA
SBIs
Small-business institutes
Group of senior and graduate students in business administration who provide management counseling to small businesses
Small business development centers
SBDCs)
University based group that provide individual counseling and practical training to owners of small businesses
Small business institutes
(SBIs)
Group of senior and graduate students in business administration who provide management counseling to small businesses
SBDCs
Small-business development centers
University based groups that provide individual counseling and practical training to owners of small businesses
A license to operate an individually owned business as though it were part of a chain of outlets or stores
Franchise
Franchisor
In individual or organization granting a franchise
A person or organization purchasing a franchise
Franchisee
The actual granting of a franchise
Franchising
A individual or organization granting a franchise
Franchisor
Franchisee
A person or organization purchasing a franchise
Money that is invested in small somtimes struggling firms that have the potential to become very successful
Venture Capitol
Privately owned firms that provide venture Capitol to small enterprises that meet their investment standards
Small-business investment companies
SBICs
Venture Capitol
Money that is invested in small business firms that have the potential to be very successful
SBICs
Small business investment companies.
Privately owned firms that provide venture Capitol to small enterprises that meet their investment standards
3 basic purposes of business plan
Communication
Management
Planning
Four questions that investors are most interested in
Nature and mission of the venture
Why is this enterprise a good idea
Business persons goals
How much will it cost
