Process of creating & managing a business to achieve desired objectives (websites, ETC.)
Any independently owned & operated business that is not dominant in its competitive area (Employs less than 500)
Small Business Administration (SBA)
Independent agency of federal government that offers managerial & financial assistance to small business
Retailing & Wholesaling
Retailers acquire goods from products or wholesalers & sell them to consumers
Service sector business that do not actually produce tangible goods (80% of US jobs)
Can provide unique opportunities for small business
Starting a business
Concept or general idea, create a business plan, strategy to guide planning & development business plan, precise statement of rationale for a business & a step by step explanation of how it will achieve goals
Persons or organizations that agree to provide some funds for a new business in exchange for an ownership interest or stock
Financial interest in property or fixtures of the business
License to sell anothers products or to use anothers name in business, or both
Company that sells a franchise
Purchase of a franchise
Many financial institutions decide whether to loan a small business money based on what?
To start any business you must first have a what?
Disadvantage of a small-business ownership?
High failure rate
Persons or organizations that agree to provide some funds for a new business in exchange for ownership interest or stock are called
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