What is the biggest reason many small businesses fail?

Entrepreneurs don't start with good financial planning..

Which is NOT a challenge of being an entrepreneur.

Set hours for work with no variation

Which of the following is NOT on the checklist for starting a venture?

Where will I locate my business?

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Introduction to Business - Chapter 5 Entrepreneurship

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Chapter Section 1: Entrepreneurship

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Questions 15

Answers

1
Which of the following is NOT a characteristic of successful entrepreneurs
Irresponsible
Goal-Oriented
Responsible
Action-Oriented
2
What is the biggest reason many small businesses fail?
Entrepreneurs feel insecure.
Entrepreneurs get bought out by bigger companies.
Entrepreneurs work alone too often.
Entrepreneurs don't start with good financial planning..
3
Which is NOT a challenge of being an entrepreneur.
Set hours for work with no variation
Being fully responsible
Getting funding
Uncertain income
4
According to the SBA, a Small business consists of fewer than __________ employees?
1,200
800
600
1,500
5
The main reason people become entrepreneurs is to have the opportunity to be creative
True
False
6
Which of the following is NOT a characteristic of successful entrepreneurs.
Risk-Taking
Self-Confident
Timid
Persistent
7
Businesses that operate on the Internet, also known as dot-com businesses.
Corporations
Partnerships
Virtual Business
Sole Proprietorships
8
A virtual business acts like a business, but is not a real business
False
True
9
A ____________________ is owned and run by two or more people.
corporation
sole proprietorship
partnership
multi-national company
10
A small business consists of _ .
less than 500 employees
less than 50 employees
less than 300 employees
less than 100 employees
11
Which of the following is NOT on the checklist for starting a venture?
Where will I locate my business?
How much money do I need to get started?
How many people will I need to run the Business?
Who are my main competitors?
12
Businesses that are owned and operated by one person are called
Partnership
Corporation
Sole Proprietorship
13
What is a corporation?
a business owned by one person
a business bought out by someone new
a business with many owners
a person owned by two people
14
Which is a reward of being an entrepreneur?
Setting your own schedule
Being under a boss
Not getting to do what you enjoy
Being like everyone else in the industry
15
One of the biggest obstacles in starting a business is ...
accepting responsibility
having a good idea
obtaining financing.
being good at something

Introduction to Business - Chapter 5 Entrepreneurship Flashcards | StudBud