Becoming an Entrepreneur
Small Business Basics
Starting a Small Business
Mixed Bag
100
Someone who takes a risk in starting a business to earn a profit.
Who is an Entrepreneur?
100
An independent business with fewer than 500 employees.
What is a small business?
100
The money needed to pay for the current operating activities of a business.
What is short-term financing?
100
Lack of adequate capital, low sales, competitive pressure & higher than expected expenses.
What are some of the primary reasons that businesses started by entrepreneurs fail?
200
Competitive, creative, independent, persistent.
What are some characteristics of an entrepreneur?
200
This group makes up more than one-fourth of all small business owner.
Who are women?
200
Every business begins with this.
What is an idea?
200
A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
What is the Small Business Administration?
300
75% comes from owner savings, bank loans, and credit card debt.
Where does startup capital come from?
300
More than half of all small businesses are this type.
What are home-based businesses?
300
True or False. Most business owners enjoy being a part of a team.
What is false?
300
A designed change that increases the usefulness of a product, service, or process.
What is an improvement?
400
Money provided by large investors to finance new producers and new businesses that have a good chance to be very profitable.
What is Venture Capital?
400
Meeting customer needs and providing unique services.
What are some of the advantages of a small business?
400
A written description of the business idea and how it will be carried out, including all major business activities.
What is a Business Plan?
500
An invention or creation that is brand new.
What is an innovation?
500
Retail Trade, Construction & Health Care and Social Assistance.
What are the top types of small businesses in the US?
500
Money needed for the important resources of a business (such as land, buildings, and equipment) that will last for many years.
What is long term financing?
500
Description of the Business, Customer Analysis, Operations Plan, Marketing Plan and Financial Plans.
What are elements of a Business Plan?
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