History
When did the small business era "take off" in the U.S
70's and 80's solidified themselves
What percentage does small business make up of the work force?
What percentage does small business make up of the work force?
When you're making a small business, should it be for money or passion?
Passion
How does one claim their business as a small business?
Independently owned and operated
What do you have to have enough of to start a business?
Capital
Which Generation is known for the "boom" of small business?
Baby boomers
How much does small business make up of the economy?
51%
What percentage of small business fail in the first 5 years?
90%
What are the max number of employees allowed?
250 or less
When planning, it is important to set ____?
Goals
What is the earliest date small business went back to?
Around the 1600's
Does small business help local communities more than big corporations?
Yes
What are two reasons small businesses fail based on our presentation?
Website
Over-expansion
lack of planning
location
funding
management
motive
What do your wholesaling costs have to be between?
$9.5 - $22 million
One problem many start ups have are trying to finalize ____ documents?
Legal
When did small business solidify itself in the U.S economy?
In the 1800's
What percentage of new jobs come from small business?
60%
How much is the minimum amount for starting a small business?
$3000
What does your retailing have to be between?
$2 - $7.5 Million
Is it important to have a test run for your business?
Yes, a trial and error period
Who defines what a small business is comprised of?
The Small Business Administration (SBA)
The labor force participation rate is less than ___ percent?
63%
Is is better to over expand or be conservative in the beginning of a small business?
Conservative
How much revenue from a service can you bring in?
Between $1.5 - $10 Million
When deciding to start a small business, it is important to _____ the ______ before you start?
Survey the industry