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24 Cards in this Set
- Front
- Back
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small business
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firm that is independently owned and operated, is not dominant in its field,
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Business plan
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written document that provides an orderly statement of a company's goals, the methods by which it intends to achieve these goals, and the standards by which it will measure achievements
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SBA (Small Business Administration)
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federal agency that aids small businesses by providing management training and consulting, financial assistance, and support in securing government contracts
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Incubator
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organization that provides temporary low-cost, shared facilities to small start-up ventures
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Sole proprietorship
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form of business ownership in which the company is owned and operated by one person
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Partnership
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form of business ownership in which the company is operated by two or more people who are co-owners by voluntary legal agreement
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Stockholder
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person or organization who owns shares of stock in a corporation
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Merger
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combination of two or more firms to form one company
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Acquisition
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procedure in which one firm purchases the property and assumes the obligations of another
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Franchise
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contractual agreement that specifies the methods by which a dealer can produce and market a supplier's good or service
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Franchisee
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the individual or business firm purchasing the franchise
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Franchisor
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the small business owner who contracts to sell the good or service of the supplier
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Preferred stock
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owners of preferred stock have limited voting rights, they are entitled to receive dividends before common-stock holders. If the corporation is dissolved, they have the first claims on assets, once debtors are repaid
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Common stock
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owners of common stock have voting rights but only residual claims on the firm's assets, which means they are last to receive any income distributions
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Not-for-profit corporation
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firms pursuing objectives other than returning profits to owners
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Entrepreneur
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person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business
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Classic entrepreneur
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person who identifies a business opportunity and allocated available resources to tap that market
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Serial entrepreneur (multipreneur)
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person who starts one business, runts it, and then starts and runs additional businesses in succession
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Lifestyle entrepreneur
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person who starts a business to reduce work hours and create a more relaxed lifestyle
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Intrapreneur
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entrepreneurially oriented person who develops innovations within the context of a large organizations
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Seed capital
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initial funding needed to launch a new venture
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Debt financing
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borrowed funds that entrepreneurs must repay
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Venture capitalist
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business firms or groups of individuals that invest in new and growing firms in exchange for an ownership share
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Angel investor
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wealthy individuals who invest directly in a new venture in exchange for an equity stake
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