Ch 6 Key Terms

3. people with unsatisfied wants or needs who have both the resources and the willingness to buy
5. Corps of Retired Executives (SCORE) an SBA office with volunteers from industry, trade associations, and education who counsel small businesses at no cost (except for expenses)
8. team 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
9. capitalists individuals or companies that invest in new businesses in exchange for partial ownership of those businesses
12. creative people who work as entrepreneurs within corportations

1. 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
2. accepting the risk of starting and running a business
4. market internet-based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer the affiliate sends to its Web site.
6. zones specific geographic areas to which governments attract private business investment by lowering taxes and other government support
7. plan detailed written statement that describes the nature of a business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner(s)
10. Business Investment Company (SBIC) Program a program through which private investment companies licenced by the SBA lend money to small businesses
11. centers that offer new businesses low-cost offices with basic business services