Principles of Bus. Assign 5_Week 5

Principles of Bus. Assign 5_Week 5 - PRINCIPLES OF BUSINESS...

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PRINCIPLES OF BUSINESS 1 Choosing a Form of Business Ownership Donza Brown BUS 111 SYS Kimberly Giacalone Metropolitan College of New York Week 5 – Assignment 5
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PRINCIPLES OF BUSINESS 2 In a few words, define the following terms: (25 points) 1 Small business The definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. 2 Small Business Administration The definition of the Small Business Administration better known as (SBA) is a U.S. government agency in which was established to promote and strengthen the economy by assisting small businesses. 3 Business Plan The definition of a Business Plan is a written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement. 4 Venture capital Capital invested in a project in which there is a substantial element of risk, typically a new or expanding business. 5 Franchise An authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products.
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