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ENT 1.01 Review Flashcards | StudBud

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ENT 1.01 Review

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#Entrepreneurship 1.01

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Questions 7

Answers

1
A reliable source of general business start-up information is
the Small Business Administration
the Project Management Institute
Wikipedia
the National Retail Federation
2
What is a main reason why small businesses are promoted & supported by local government?
They serve only their local communities.
They may become a big business.
They are important to the economy.
They are owned by one person.
3
Which of the following statements is true about entrepreneurship & small business growth:
Trade regulations have little effect on growth.
Small business start-ups are taxed at a higher rate.
Consumer spending is a main factor that influences success.
People start entrepreneurial ventures during recession.
4
Which is most likely to have a negative effect on domestic small-business growth:
Involuntary tax reductions
Restrictive loan policies
Slow inflation
Low interest rates
5
Small businesses have a positive effect on the local community because they:
charge interest
limit job growth
pay taxes
reduce competition
6
Service Corps of Retired Executives (SCORE) serves as a _____ to new entrepreneurs.
mentor
entrepreneur
intermediary
apprentice
7
What would you recommend to an entrepreneur looking to open a self-serve laundromat:
Coin laundry trade association
Small business administration
Local chamber of commerce
Service Corps of Retired Executives