11 Business - SMEs

Question 1

How many businesses survive the first 5 years of operations?

Accepted Answer

30%

Question 2

A business not having enough money to buy stock to sell, despite having lots of customers is...

Accepted Answer

undercapitalisation

Question 3

Economic growth is measured by GDP. What does this stand for?

Accepted Answer

Gross Domestic Product

Question 4

What key to success is related to an SME's ability to concentrate on one market segment?

Accepted Answer

Focus on market niche

Question 5

What is not a common reason for business failure?

Accepted Answer

Flexibility

Question 6

Spending on R&D by SMEs is related to what type of economic contribution?

Accepted Answer

Innovation

Question 7

What is not a common feature of SMEs?

Accepted Answer

Publicly owned

Question 8

What percentage of the private sector employment is provided by SMEs?

Accepted Answer

70%

Question 9

A business owner adjusting the business plan to deal with overseas competition relates to what?

Accepted Answer

Entrepreneurial abilities

Question 10

An unincorporated SME has failed when it is:

Accepted Answer

Bankrupt

Question 11

The ABS defines SMEs as having fewer than how many employees?

Accepted Answer

200

Question 12

Large businesses were the major drivers of employment growth in the past decade.

Accepted Answer

False

Questions 12