Chapter 6: Entrepreneurship

Money for current expenses like materials, salaries, and fuel.

Funding to get the business started and pay for permits, inventory, rent, etc.

Entrepreneurs

When writing a business plan, having a "Plan B" is also called what

All entrepreneurs should write a business plan when starting a business.

Money needed for the important resources of a business that will last for many years is called

The SBA states a small business has fewer than how many employees?

Money provided by large investors to finance businesses that will return a profit.

Every business begins with a(n)

The first step in developing a business plan is to

Most of the money needed to start a new business comes from

Successful entrepreneurs tend to have the following characteristics EXCEPT

Someone who takes a risk in starting a business to earn a profit

SCORE stands for Service Core of Retired _______

Small businesses have an advantage over big businesses when customers

Funding for large capital projects like buying land or building a warehouse.

Which of the following is NOT a common reason for business failure?

Most business plans are developed for how many years?

In the United States, women own this percentage of small business.

Everyone who owns their own business is an entrepreneur.

A soda producer adding a new flavor ingredient to an existing soda would be an example of an

Which of the following does NOT describe a typical small business?

An advantage small business owners have over larger businesses is that they can

Short-term financing is obtained for a period of less than

A written description of the business idea and how it will be carried out.