SMALL BUSINESS
What does 'SBA' Mean?
Small Business Administration
Define persistence
determination to work through obstacles
define Trait
distinguishing characteristic or quality that makes each person unique.
which is more likely to fail an old business or a newer business?
A newer business
why is a financial plan so important?
Convince investors to contribute to new business
What two terms define A Small Business
An Average number of employees or The average annual receipts \
the 5 Ps are common qualities of?
successful entrepreneurial business
define leadership
is the ability to influence other to reach a goal
Define inefficient inventory Control
money is tied up that could be used on other activities
money necessary to start and open a business
Start-up-Capital
why does size standards help small business?
The SBA helps categorize and identify assistance that may be available
the statistics about entrepreneurs in the US prove that?
Anyone can become a successful entrepreneur
what are common traits of successful entrepreneurs
passionate Organized creative disciplined
poor location
lack of money
poor management skills
what is the purpose of a Pro forma financial statement?
projects revenue and expenses to show whether a business is profitable
what does the SBA require?
organized for profit, place of business in the united states, is independently owned and operated
Define purpose
A goal that is set and you trying to achieve it
what are some basics skill entrepreneurs have
effective speaking and listening
being able to operate a business
what are the 3 financial statements?
Pro forma balance sheet
pro forma income statement
pro forma cash flow statement
how many employee does wholesale trade have?
100
What is the percentage of Male entrepreneurs?
transferable skills mean?
Individual perform in the workplace or gain success in a career
does poor credit management contribute to why business fail?
yes, you have to use your credit responsibly it is very important for a financial success business.
refers to the way a business is financed
Capital Structure