Section 6.1.
This is a primary reason people take the risk of being an entrepreneur.
What is wanting to be your own boss?
In a small business, the owner is usually this.
What is a manager?
Idea plus experience, the right time and place, a team approach, and preparation and research.
What are factors that lead to a successful new business?
Someone who takes a risk by starting his or her own business.
The process of starting, organizing, managing, and assuming the responsibility for a business.
What is entrepreneurship?
Entrepreneurs have these, which is why they create innovative ideas and then develop a good initial plan for a business.
What are their special skills and abilities?
According to the government this entity contains 500 or less employees and offers products and services for the purposes of yielding a profit or fulfilling a charitable good.
What is a small business?
This document allows the owner to think about important activities, the amount of time they will take, and their cost all while keeping the business on track.
What is a business plan?
Money needed to pay current operating costs of the business.
What is start-up financing?
An invention or creation that is brand new.
What is innovation?
Entrepreneurs represent these type of age categories, racial and ethnic groups, genders, and educational levels.
What are all/both types of age categories, racial and ethnic groups, genders, and educational levels?
Small businesses provide these types of products and services for customers that large businesses can't provide.
What are specialized or unique services?
Start-up, short-term, and long-term.
What are the three types of financing to be considered for a start-up?
One of the main reasons that businesses started by entrepreneurs fail..
What is inadequate capital?
A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
What is small business administration (SBA)?
This commodity is used for new businesses and may come from the owner, family, friends, or venture capital.
What is start up money?
It operates in one or very few locations, it typically serves a small market, and it is not dominant in its field of operation.
A mixture of owner-supplied and borrowed funds.
What is money required to start and operate a new business? What is start-up, short-term and long term financing?
This document includes a description of the strengths and weakness of competitors.
What is a business plan?
The money needed to pay for the current operating activities of a business.
What is short-term financing?
This is usually a greater factor in starting a business over having a job. It is a primary reason why most people are not entrepreneurs.
What is risk?
Not keeping adequate records, not having enough start-up money, lack of management experience, lack of experience with the type of business, not controlling operating expenses, poor location for the business, and failure to manage customer credit.
What are common reasons for small business failure?
A critical and important step in starting and operating a new business.
The land that the business is built on requires this type of financing
What is long-term financing?
Relating to an owner or ownership. Something that is owned by someone, often with associated rights such as intellectual property rights.
What is proprietary?