| A | B |
|---|
| independent business with fewer than 500 employees | small businesses |
| on average a small business needs this amount or less to get started | $5,000 |
| this percent of all Americans age 16-64 are involved in some type of entrepreneurship activity | 13% |
| 82% of new jobs are created by | small businesses |
| 500,000 new businesses are ___ each year | opened and closed |
| amount of new businesses that make a profit each year | 1/3 |
| Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable | venture capital |
| a written description of a business idea and how it will be carried out, includiong all major functions | business plan |
| process of starting, organizing, managing and assuming the responsibility for a business | entrepreneurship |
| government agency that helps small business owners plan and obtain financing and other support for their companies | small business association (SBA) |
| A competitive advantage that small businesses have over larger businesses | attention to unique customer needs |
| goal-oriented, competitive, driven | traits on an entrepreneur |
| every business begins with this | an idea |
| the amount of money needed to open the business | start-up financing |
| The money needed to pay for the current operating activities of a business | short-term financing |
| Someone who takes a risk in starting a business to earn a profit | entrepreneur |
| A designed change that increases the usefulness of a product, service, or process | improvement |
| An invention or creation that is brand new | innovation |
| Money needed for the important resources of a business (such as land, buildings, and equipment) that will last many years | long-term financing |
