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Entrepreneurship
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Small Business Basics
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The Business Plan
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Financing a Business
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Vocabulary
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Small Business Basics Business Plan Financing a Business Entrepreneurship Vocabulary $ $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500
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Someone who takes a risk in starting a business to earn a profit
C 1 - $100 Someone who takes a risk in starting a business to earn a profit
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C 1 - $200 The process of starting, organizing, managing, and assuming the responsibility for a business
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C 1 - $300 A business owned and run by just one person
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Venture Capital companies provided how much money
to new businesses in the 1990’s
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C 1 - $500 The National Federation of Independent Business reported on a 10-year period. What % of new businesses were discontinued?
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C 2 - $100 US Govt. agency that helps small business owners obtain financing and other support for their companies
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About how many new businesses are created in the US every year?
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Small businesses account for what %
of GDP in the US each year
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A small business is an independent business with fewer than
C 2 - $400 A small business is an independent business with fewer than how many employees?
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C 2 - $500 Organization of retired local businesspeople who volunteer their services to counsel and mentor new business owners
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The first step in developing a business
C 3 - $100 The first step in developing a business plan is to….
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C 3 - $200 Which element of a business plan discusses the entrepreneur's short- and long-term goals?
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C 3 - $300 A written description of the business idea and how it will be carried out
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C 3 - $400 Analysis of resources needed and the plan for the organization of the company would be in which section of a business plan?
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What is the most popular use for a business plan?
C 3 - $500 What is the most popular use for a business plan?
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Short-term financing is obtained for a period of less than…
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Most of the money needed to start a new business comes from…
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C 4 - $300 Money needed for the main resources of a business that will last for many years
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The amount of money needed to open a business
C 4 - $400 The amount of money needed to open a business
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C 4 - $500 Money provided by large investors to finance new products and new businesses that have a good chance to succeed
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C 5 - $100 An invention or creation that is brand new
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A designed change that increases the usefulness of a product, service,
or process
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A detailed account of a company’s materials, supplies,
and finished products
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Activities provided for the satisfaction of
others that are consumed at the same time they are produced
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in relation to a unit of input, such as a worker
The production output in relation to a unit of input, such as a worker
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C 1 A - $100 Entrepreneur $
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C 1 A - $200 Entrepreneurship $
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C 1 A - $300 Proprietorship $
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C 1 A - $400 More than $100 Billion $
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C 1 A - $500 More than 50% $
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Small Business Administration (SBA)
C 2 A - $100 Small Business Administration (SBA) $
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C 2 A - $200 625 Thousand 625,000 $
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C 2 A - $300 More than half $
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C 2 A - $400 500 $
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C 2 A - $500 Service Corps of Retired Executives $
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C 3 A - $100 Gather and review information $
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C 3 A - $200 Description of the business $
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C 3 A - $300 Business Plan $
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C 3 A - $400 Operations Plan $
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To persuade lenders and investors to finance the venture $
C 3 A - $500 To persuade lenders and investors to finance the venture $
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C 4 A - $100 One Year $
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C 4 A - $200 The entrepreneur and his/her family and friends $
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C 4 A - $300 Long-term financing $
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C 4 A - $400 Start-up Financing $
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C 4 A - $500 Venture Capital $
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C 5 A - $100 Innovation $
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C 5 A - $200 Improvement $
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C 5 A - $300 Inventory $
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C 5 A - $400 Services $
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C 5 A - $500 Productivity $
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FJ Topic Business Plans $
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FJ Question Before a business plan is completed, the owner should have business experts review the plan and advise on its… $
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Strengths and Weaknesses
FJ Ans Strengths and Weaknesses $
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