Business Dynamics Ch 6

entrepreneurship

accepting the risk of starting and running a business

entrepreneurial team

group of experienced people from different areas of business who join together to form management

intrapreneurs

people that work as entrepreneurs withing corporations

micropreneurs

entrepreneurs who want to run a small business and keep a balanced life

enterprise zones

geographic areas where governments attract private business investments by lowering taxes

incubators

offer new business low cost offices

small business

one independently owned and operated business

business plan

detailed written statement that describes the business, target mark, advantages on society, and qualification

cover letter

summarize most attractive points of your project in as few words as possible

executive summary

short description of the business and discuss major goals and objectives

company background

summarize firms financial conditions, include past and current financials and balance sheets

management team

organization chart, job descriptions

financial plan

5 year projection for income, expenses, and funding

venture capitalists

people or businesses that invest in small businesses

small business administration

provides management training, financial advice, and loans

small business investment company program

investment companies licensed by SBA to lend money to small businesses

service corps of retired executives

volunteers who counsel small businesses for free