Essential Question
1. How do you start and manage a small business?
Supporting Questions
1. How do you make a business plan?
2. What area do you want to put your business in?
3. How will you analyze the market area for stability and growth?
4. What kind of business are you going to simulate starting?
5. What are the financial aspects involved with starting a small business?
6. Will you have employees? If so how many?
7. How long will it take to make a profit?
8. What kind of profit are you looking to make?
9. How much money will you need to put into the business? (Take all things into consideration)
10. What kind of consumer are you looking for?
11. Are you going to have an advertizing campaign?
12. Who are you going to interview to get a view from other small business owners?
13. What are the problems involved with small business management?
14. What are the advantages involved with small business management?
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Collage
- Taxes- money taken out by the government that you are forced to pay. (N)
- Stocks & Investing- a supply of goods kept on hand for sale to customers by a merchant, distributor, manufacturer, etc.; inventory. (N)
- Statistics-the science that deals with the collection, classification, analysis, and interpretation of numerical facts or data, and that, by use of mathematical theories of probability, imposes order and regularity on aggregates of more or less disparate elements. (N)
- Small Business- an independently owned and operated business that is not dominant in its field of operation and conforms to standards set by the Small Business Administration or by state law regarding number of employees and yearly income. (N)
- Retirement -removal or withdrawal from service, office, or business. (N)
- Real Estate-property. (N)
- Law- rule needed to be followed and if broken there will be consequences. (N)
- International Trade- to trade internationally or to trade to different countries.
- Insurance- the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved. (N)
- Human Resources- people, esp. the personnel employed by a given company, institution, or the like. (N)
- Finance: Management- To manage yours, or somebody else’s money.
- Estate Planning- The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death.
- Economics- the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. (N)
- Currency- something that is used as a medium of exchange; money. (N)
- Commodities- an article of trade or commerce, esp. a product as distinguished from a service. (N)
- Bonds- A binding agreement; a covenant. (N)
- Bankruptcy/Debt- a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law. (N)
- Advertising-the act or practice of calling public attention to one's product, service, need, etc. (N)
- Accounting- the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. (N)
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