Show:
Business Functions
Sole Proprietorship
franchise
Partnership
small businesses
100

A system of recording financial activity and transactions in a business. The "money" part of a business.

Accounting

100

A business owned by one person.

Sole Proprietorship

100

is franchising a more popular trend?

yes

100

A business owned by two or more people

Partnership

100

what is a small business?

 Statistics for small businesses vary based on criteria such as new/start-up businesses, the number of employees, total revenue, length of time in business, nonemployees, businesses with employees, geographic location, and so on.

200

The use of technology to share knowledge, facts, and data to others. (ex. Maintaining hardware and databases)

Information Technology

200

Easy to start, "Be your own boss", and keeping ALL profits, are considered:

Advantages

200

define franchisee 

 the individual or company selling the goods or services in a certain geographic area.

200
Relatively easy to start, sharing skills/talents, and shared risks in the business are referred to as:
Advantages
200

what is One of the best sources to track U.S. entrepreneurial growth activity?

 the Ewing Marion Kauffman Foundation.

300

How businesses make people aware of their goods/services. (Product, price, place, and promotion)

Marketing

300

Having to pay for everything needed, difficulty obtaining capital, lack of business skills, and unlimited liability are considered:

Disadvantages

300

what are the different types of franchise?

Franchising 

 franchisor

franchisee 

franchise agreement

300
Partnership issues, sharing profits, and unlimited liability are referred to as:
Disadvantages
300

how many people are considered a small business? 

anywhere from 1-49 none over 50.

400

Effectively working with people and using resources to accomplish the organization's goals.

Management

400

What is money needed to start a business?

Capital

400

what is n advantage to franchising?

Increased ability for franchisor to expand

 Recognized name, product, and operating concept.

Management training and assistance 

Financial assistance.

400
Is Apple a partnership? (Yes/no)
No
400

what should you consider before starting a small business?

  • Identify your reasons
  • Self-analysis
  • Personal skills and experience
  • Finding a niche
  • Conduct market research
  • Plan your start-up: write a business plan
  • Finances: how to fund your business
500

Manages the employee relations with a company; helps develop the skills and knowledge necessary to be successful while on the job.

Human Resources

500

What is the example situation that involves losing MORE money than initially invested in a business? (hint: borrowing money, loans)

Having to pay interest on top of the loan/amount borrowed

500

what are the top 5 franchises as of 2017?

7 eleven 

McDonald’s   

 Dunkin’ Donuts    

 The UPS Store  

 Jimmy John’s Gourmet Sandwiches

500
Seeing business names such as "Ben and Jerry's", "Tom and Ray's Auto Body Repair", and "J&S Law Services" would lead you to believe they are partnerships because:
The titles contain the names of the owners.
500

one of the most important steps in starting a business?

a business plan