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Flashcards in chapter five Deck (12)
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1
Q

small business`

A

one that is independently owned and operated for profit and is not dominant in its field

2
Q

business plan

A

a carefully constructed guide for the person starting a business

3
Q

Small Business Administration (SBA)`

A

a governmental agency that assists, counsels, and protects the interested of small business in the United States

4
Q

SCORE Association

A

a group of businesspeople who volunteer their services to small businesses through the SBA

5
Q

Small-business institutes (SBI’s)

A

groups of senior and graduate students in business administration who provide management counseling to small businesses

6
Q

small-business development centers (SBDC’s)

A

university-based groups that provide individual counseling and practical training to owners of small businesses

7
Q

venture capital

A

money that is invested in small (and sometimes struggling) firms that have the potential to become very successful

8
Q

small-business investment companies (SBIC’s)

A

privately owned firms that provide venture capital to small enterprises that meet their investment standards

9
Q

franchise

A

a license to operate an individually owned business as though it were part of a chain of outlets or stores

10
Q

franchising

A

the actual granting of a franchise

11
Q

franchisor

A

an individual or organization granting a franchise

12
Q

franchisee

A

a person or organization purchasing a franchise