Ch. 6 Intro (New)

A good example of an entrepreneur is a(n)

This type of trade accounts for the largest percentage of small business in the U.S.

Money needed for the main resources of a business that will last for many years.

Most Americans are employed by a small business.

A government agency that helps entrepreneurs develop a business plan and obtain financing

A business idea can come from

Products or raw materials a business keeps on hand.

Part of the business plan that discusses the organization of the company and major operations.

The first step in developing a business plan is to gather and review information.

The American private enterprise system discourages risk-taking and innovation.

Money needed to pay for the current operating activities of a business.

The most important step in starting a business is developing confidence.

New businesses are often discontinued because

Many entrepreneurs own their first business while in their teens.

Most successful entrepreneurs have a low tolerance for ambiguity

Personal characteristics of successful entrepreneurs include

Most business plans are updated

Part of business plan discussing sales forecasts, the location and number of potential patrons.

What percentage of U.S. businesses are owned by women?

Money provided by large investors to finance new products and new businesses.

Most money needed to start a new business comes from family and friends.

An invention or creation that is brand new.

A large number of small businesses in the U.S. are service businesses.

A design change that increase the usefulness of a product or service

Many small businesses fail simply because the owners do not keep adequate records.