Entrepreneurship Terminology

3. Service – Support and assistance provided to customers.
6. – Money earned after all expenses are paid.
7. – A new idea, product, or method that improves something.
10. – The ability to guide and motivate a team.
11. – A person who starts and runs a business, often taking financial risks.
13. – Money put into a business with the expectation of future gain.
15. – Building professional relationships to create opportunities.
17. – Products and materials a business keeps in stock.
18. and Demand – The relationship between product availability and customer desire.
19. – A business model where individuals operate under an established company name.
20. – A newly created business designed to grow quickly.

1. Plan – A written document outlining business goals, strategies, and finances.
2. – Creating a unique image and identity for a business.
4. – Other businesses offering similar products or services.
5. – Activities used to promote and sell products or services.
8. Market – The specific group of customers a business wants to reach.
9. – The total amount of money a business earns from sales.
12. – A short presentation used to persuade others to support a business idea.
14. – Costs required to operate a business.
16. – The chance of losing money or failing in business.