Entrepreneurship
True or false? An individual who starts a new business is called an entrepreneur?
True
True or False? Small businesses provide opportunities for women and minorities.
True
What section is included in a business plan?
a. Financial plan
b. Executive Summary
c. Industry analysis
d. All the above
d. All the above
What is the biggest company in the world?
A. Apple
B. Amazon
C. Google
D. Walmart
D. Walmart
What is an entrepreneur?
Someone who identifies a business opportunity and takes advantage of it.
What is the maximum amount of employees you can have in a small business?
500
Who are your 2 best friends when starting a business?
A lawyer and accountant
How many businesses were permanently closed due to Covid in 2020?
A. 200,000
B. 400,000
A. 200,000
What are 2 advantages of starting your own business
Be your own boss
Accommodate a desired lifestyle
Achieve financial independence
Enjoy creative freedom
Use your own skills and knowledge
What % of adults are self employed or work for a small business?
A.30%
B.40%
C.50%
D. 60%
C. 50%
What does SBA stand for?
Small Business Administration
What is an industry?
A group of businesses that do similar things
Is a manager or business owner an entrepreneur?
Business owner
What are 2 things small businesses do for big businesses?
1. Create jobs
2. Spark innovation
What percent of businesses fail within the first year?
20%
How many businesses survive after 10 years?
A. 1/3
B. 1/5
C. 2/3
D. 2/5
A. 1/3
What are the 3 characteristics of an entrepreneur
1. Innovation
2. Running a business
3. Risk taking
How many small businesses are there in the US?
A. 32 mil
B. 31.7 mil
C. 42.3 mil
D. 45.7 mil
B. 31.7 mil
What are 3 things you need when starting a business?
1. Location
2. A product or service is defined
3. Employees
Who was the founder of JC Penny?
JC Penny