BUS-X 100 Chapter Notes - Chapter 5: Business Plan, Small Business Administration, Franchising
Document Summary
Entrepreneurship is the process of creating and managing a business to achieve desired objectives. Small business is defined as any business that independently owned and operated that is not dominant in its competitive area and does not employ more than 500 people. Small business administration is an independent agency of the federal government that offers managerial and financial assistance to small businesses. Intuitive: creative, productive, patient, charismatic, persistant, innovative, frugal, friendly. Notes by priyadharshini sivakumar chapter 5: fearless. The lack of funds to operate a business normally. Without sufficient funds, small business ideas might fail. Business plan (cid:873)a precise statement of the rationale for the business and a step by step explanation of how it will achieve it"s. Should establish a strategy about they"re going to acquire the sufficient funds to keep the business goals(cid:874) going. A good business plan should act as a guide.
