5.1- 5.2
Who are People with vision, drive, and creativity
Entrepreneurs
Best resource on tracking U.S. Entrepreneurial growth
Ewing Marion Kauffman Foundation
Name one type of outside consulting that small businesses use
accountant, attorney, Information technology, Marketing, Customer service, Order fulfillment, Payroll, Human resources
Who's mission is to speak on behalf of small business
Small business Administration
What is it called when some entrepreneurs don’t own their own companies but apply their creativity, vision, and risk-taking within a large corporation
Intraprenuers
What is it called when you start small and plan to stay small
Microprenuers
self-assessment
Name one of the costs involved in hiring an employee
Recruiting, Help wanted ads, Extra space, Taxes
The Small Business Administration helps provide what for small businesses
Financial Assistance Programs
What is financing obtained from venture capitalists called
venture capital
What is an entrepreneurs who start a series of companies
Multiprenuers
what percentage of Fortune 500 companies executives got the idea for their company while working in the same or related industries
80%
Name one of the reasons why small businesses continue to thrive
Independence and a better lifestyle, Personal satisfaction from work, Best route to success, Rapidly changing technology
What do the small business development centers provide
Offer advice, training, and educational programs
Name one skill that is important to have as an entrepreneur
Time management, Good interpersonal, and communication skills
What is borrowed funds that must be repaid-with interest over a stated time period
debt
Why do some businesses stay small?
Greater flexibility and an uncomplicated company structure allows small businesses to rec quicker to the changing economy, Innovative production ideas, Operating more efficiently, Serve in specialized markets
Does location matter when starting a company
In some industries it does
Elon Musk breaks up his day into increments of how many minutes?
5 minutes
what are individual investors or groups of experienced investors who provide financing for start-up businesses by investing their own money called
Angel Investor
What are some issues tough when it comes to staying small
Complying with federal regulations, Managerial skills, Long hours, Learning to release control