Entrepreneurship and Small Business Management

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

Which is NOT a source of financing that entrepreneurs use for their new businesses?

The process of starting, organizing, managing, and assuming the responsibility for a business

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

Every business begins with a(n)

The amount of money needed to open the business

Which of the following is not an element of a business plan

A government agency that helps small business owners develop business plans & obtain financing

T/F Most small business owners enjoy being part of a team

A designed change that increases the usefulness of a product, service, or process.

Which of the following is not one of the reasons small business fail?

What percentage of job growth came from businesses with fewer than 100 employees

An independent business with fewer than 500 employees

Women own more than _______ of all small businesses

A business plan does not have to be written because the owner is well aware of the information

The money needed to pay for the current operating activites of a business

A competitive advantage that small business have over larger businesses is

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

Which is NOT one of the 4 points that can be used to describe small businesses?

Money provided by large investors to finance new products/businesses

An invention or creation that is brand new

T/F Everyone who owns or manages a business is an entrepreneur