Chapter 7

Characteristics of Entrepeneur

vision, self reliance, energy, confidence, tolerance of uncertainty, tolerance of failure,

entrepreneurs

people who risk their time, money, and other resources start and manage a business

Angel Investors

individuals who invest in start up companies with high growth potential in exchange for a share of ownership

Venture Capital Firms

Companies that invest in start up businesses with high growth potential exchange for a share of ownership

Small business administration (SBA)

fed gov agency designed to maintain and strengthen the nation’s economy by aiding, counseling, assisting, and protecting the interest of small businesses

Market niches

A small segment of a market with fewer competitors than the market as a whole

Small Business Development Center

Local offices, affiliated with the small businesses, that provide, comprehensive management assistance to current and prospective

Business Plan

a formal document that describes a business concept, outlines business objectives, and details strategies, and timelines for achieving those objectives

Market Niche

small segment of a market with fewer competitors than the market as a whole