Entrepreneurship: Business Jargon

Entrepreneur

An entrepreneur is a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome. The term was originally from the French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to launch a new venture or enterprise and accept full responsibility for the outcome. Jean-Baptiste Say, a French economist, is believed to have coined the word “entrepreneur” in the 19th century – he defined an entrepreneur as “one who undertakes an enterprise, especially a contractor, acting as intermediatory between capital and labor.”

Startup

A startup company or startup is a company with a limited operating history. These companies, generally newly created, are in a phase of development and research for markets. The term became popular internationally during the dot-com bubble when a great number of dot-com companies were founded. A high tech startup company is a startup company specialized in a high tech industry.

Small Business Owner

A small business is a privately owned and operated business. A small business typically has a small number of employees. In the United States, the legal definition of a small business is determined by the U.S. Small Business Administration (SBA), which sets the criteria to be used by the SBA in making small business determinations.
Criteria by the SBA in determining the definition of a small business includes the number of workers employed or annual receipts.

The following criteria is used by the SBA to define a small business:

• Manufacturing: Maximum number of employees may range from 500 to 1500
• Wholesaling: Maximum number of employees may range from 100 to 500
• Services: Annual receipts may not exceed $2.5 to $21.5 million
• Retailing: Annual receipts may not exceed $5.0 to $21.0 million
• General and Heavy Construction: Annual receipts may not exceed $13.5 to $17 million
• Special Trade Construction: Annual receipts may not exceed $7 million
• Agriculture: Annual receipts may not exceed $0.5 to $9.0 million

[Source:  SBA's definition of a small business concern]

Startup jargon

Wondering what "MVP" means in Silicon Valley? Hint: it doesn't stand for "most valuable player." These crowdsourced glossaries - created not by lexicographers but rather by people working in the industry - are a handy guide to learn your pivots from your exits as you read about startups.

Silicon Valley Dictionary - A list-based glossary inspired by the television series Silicon Valley. Some humor included.

Startup Definition - Created by RJMetrics, includes both search and list views.

The Startup Dictionary - Includes handy search bar for quick reference.

Wordnik - Itself a startup, claiming to be the world's biggest online English dictionary. Searchable.

Funding Sage - Business dictionary for startups