The Enterprise and Economic Development Glossary a resource of the .network library

business retention:

... a best practice approach by places seeking economic development which involves giving attention to the welfair and vitality of existing enterprises that are contributing to the sustainability of the community and its environment as well as the growth of the area economy. An economic development organizations may refer to its program as business and industry retention. Also there are area and local development organizations that focus on industry retention.

Sometimes the line si not clear between retention efforts that shores up employers in irreversable decline for the sake of saving jobs and those efforts that accommodate positive change. Throwing good money after bad is not business retention, at least not in the long-term, but making community resources available for use and, somtimes, simply maintaining a pro-business attitude can make a difference. Making educational and training resources available to the laborforce on a preemployment basis and skills upgrade is a good example of how to help existing enterprises. It has been pointed out that a community having only a dollar to spend on economic development should be spent on business retention.

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The Enterprise and Economic Development Glossary a resource of the .network library

business venture:

... an entrepreneurial undertaking with expectation of financial gain; a new venture starup as an enterprise in which there is expected to be an ROI (Return On Invetment) of time and capital.

The most visable venure generally shows up as a small business. With success in mind, the smart entrepreneur moves from idea through an period of careful analysis and calculation of risk to a point of making a plan. The plan is a guide as well as something to convince a lender or invester. Potential investors include venture capitalists who themselves operate with a form of business venture. The business venture may exist well past startup as an enterprise involving risk in expectation of gain. For example, a fast-growing company may need to expand and add more to its status as a venture. A busines venture may have a single owner as its investor or it may be formed or made possible by a group of owners as investors. Most enterprise development projects in the hands of an entrepreneurs who have them organized with expection of profits are business ventures.

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FYI: definition of asset, what is an asset, what are assets, definition of asset management, what is an asset manager, what is a business asset, what is an industrial asset