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Definition
| Accepting the risk of starting and running a business. |
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| A group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product. |
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| Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle. |
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Definition
| An Internet-based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer the affiliate sends to its website. |
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| Creative people who work as entrepreneurs within corporations. |
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| Specific geographic areas to which governments try to attract private business investment by offering lower taxes and other government support. |
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Definition
| Centers that offer new businesses low-cost offices with basic business services. |
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Definition
| A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size (set by the Small Business Administration) in terms of employees or annual receipts. |
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Definition
| A detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owner(s). |
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Definition
| Individuals or companies that invest new businesses in exchange for partial ownership of those businesses. |
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Term
| Small Business Administration (SBA) |
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Definition
| A U.S. government agency that advises and assits small businesses by providing management training and financial advice and loans. |
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Term
| Small Business Investment Company (SBIC) Program |
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Definition
| A program through which private investment companies licensed by the Small Business Administration land money to small businesses. |
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Definition
| People with unsatisfied wants and needs who have both the resources and the willingness to buy. |
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Term
| Service Corps of Retired Executives (SCORE) |
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Definition
| An SBA office with volunteers from industry, trade associations, and education who counsel small businesses at no cost (except for expenses). |
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