Business Ownership
Name the four types of business ownership
What is...Sole proprietor, partnership, LLC & corporations
A person that takes initiative to start a business
What is...entrepreneur
What qualifies as a small business?
What is...a for profit business with less than 500 employees
What tool(s) have changed the way we do business?
What is...technology (Internet, computer, smart phones etc)
What is the state capital?
What is...Concord
What is an advantage of a sole proprietorship
What is...flexibility, the owner makes all decisions, owner keeps all the profits
What do entrepreneurs risk when starting a business?
What is....Time & Money
What is the threshold of total annual sales for a business to qualify as "small"
What is...industries vary but $7.5 million
What is the currency of the future?
What is... cryptocurrency
What is...UNH, Plymouth State & Keene State
Name a disadvantage of a partnership
What is...profits and losses are shared, partners often can disagree about critical decisions, liability
What factors must an entrepreneur focus on when starting a business?
What is...Customer wants and needs
What is considered to be one of the biggest pro's when starting a small business?
What is... low barrier of entry
What is... Customer Relations Management system
What year did the old man of the mountain collapse
what is...2003
What is the biggest advantage of creating an LLC?
What is...separation of business and personal assets
Name at least 3 characteristics of an entrepreneur
What is...Risk taker, creative, driven, independent, learner, confident
What percent of business in the United States are classified as "small"
What is...99%
How have advertisements changed over time?
What is...digital (social media), personalization of ads, influencers
Who is the governor of NH?
Who is...Kelly Ayotte
In a corporate structure who cares the most about profits?
Who are...stockholders
How does an entrepreneur differ from a small business owner?
What is...an entrepreneur creates a new product or service for the consumer. A typical small business owner starts a business with an established field/area
What is...E-commerce, Digital marketing, social media management, real estate, personal training, consulting, web development, cleaning services
What is CSR?
What is...Corporate Social responsibility, business are working to do the right thing for their customers and the environment
NH was the _________ state to join the union?