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8 Cards in this Set
- Front
- Back
operating business requires skills in:
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management, financing, marketing
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who owns a small business these days:
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more educated, young, people mostly female and minorities
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business plan
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written description of the business idea and how it will be carried out.
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business plan elements are:
6 steps |
1. Description of business
2. Description of competition 3. Customer analysis 4. Operations plan 5. Marketing plan 6. Financial plan |
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start up financing
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the money needed to open a business. includes costs of buildingsm equipment, inventory
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short term financing
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money needed to pay for the current operating activities of a business. often used for over a period of less than a year.
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long term financing
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money needed for important resources of a business (such as land, buildings, amd equipment) that will last for years
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source of financing
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proprietorship- one person supplys
partnership- both owners split cost corporation- shareholders pay with money from loans being payed off and other financial institutions. |