Card Set Information
What is a small business?
Is one that is independently owned and operated for profit and is not dominated in its field.
What is a business plan?
Is a carefully constructed guide for the person starting a business.
What is the Small Business Administration (SBA)?
Is a governmental agency that assists, counsels, and protects the interests of small businesses in the United States.
What is Service Corps of Retired Executives (SCORE)?
Is a group of businesspeople who volunteer their services to small businesses through the SBA.
What are small-business institutes (SBIs)?
They are groups of senior and graduate students in business administration who provide management counseling to small businesses.
What are small-business development centers (SBDCs)?
They are university-based groups that provide individual counseling and practical training to owners of small businesses.
What is venture capital?
Is money that is invested in small (and sometimes struggling) firms that have the potential to become very successful.
What are small-business investment companies (SBICs)?
They are privately owned firms that provide venture capital to small enterprises that meet their investment standards.
What is a franchise?
Is a license to operate an individually owned business though it were part of a chain of outlets or stores.
What is franchising?
Is the actual granting of a franchise.
What is a franchisor?
Is an individual or organization granting a franchise.
What is a franchisee?
Is a person or organization purchasing a franchise.