Business plan - A proposal that describes a new business, Entrepreneur - An individual who undertakes the risk associated with creating, organizing, and owning a business., Entrepreneurship - The process of starting and operating one’s own business., Free Enterprise System - A system where businesses are owned by private individuals and groups, not by the government, Opportunity - An idea that has commercial value, Risk - The chance of damage or loss., Venture - A business undertaking involving risk., Sole Proprietorship - A business owned and operated by one person., Partnership - A form of business ownership where two or more individuals share assets, liabilities, and profits., Corporation - A business that is chartered by the state and legally operates apart from its owners., Franchise - The right to sell a company’s goods or services in a particular geographic area., Retail Business - A type of business that sells products directly to consumers., Non-profit - An organization that is set up to help those in need but not to make a profit from the business., Service business - Work done for others for a profit.,

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