Business Innovation Final Set #2

According to the textbook, one of the drawbacks of using venture capital is that:

venture capital firms may ask for a high stake in your business.

One of the best places for young entrepreneurs to start shopping for an SBA loan is a(n):

Small Business Development Center.

Small businesses create about __________ percent of the new jobs in the United States.

65

Which of the following is a characteristic of successful entrepreneurs?

Action-oriented

The SBA's ________ program provides export-financing opportunities for small businesses.

Export Express loan

What are the primary sources of funding for entrepreneurs?

Personal savings and individual investors such as family.

Which of the following statements is characteristic of entrepreneurs?

They look at problems and see opportunities.

Entrepreneurship is:

accepting the risk of starting and running a business.

A successful web-based strategy that helps a business spread the word about its website and products is called ____________.

affiliate marketing.

Small businesses must seek advice from outside experts. In order to put together official documents such as leases, contracts, and partnership agreements, it is important to seek the advice of ________.

an attorney.

A good business plan will:

describe all aspects of the business, including product, the target market, the nature of the competition, any financial resources, and the owner's qualifications.

A(n) ________________ is a group of experienced professionals from different areas of business who join together to develop, make, and market a new product.

entrepreneurial team

An entrepreneurial team consists of:

experienced professionals from different areas of business.

The primary concerns when first starting your business are:

financing and planning.

State and city governments have promoted facilities where new businesses can open up shop and share common services such as secretarial, accounting, and legal services. Due to their remarkable success rate, _______________ continue to grow in popularity.

incubators

A creative person working within a corporation to launch new products and generate new profits is known as a(n):

intrapreneur.

According to economist Bruce Kirchhoff, small business failures are:

lower than traditionally reported.

According to SBA guidelines, a manufacturing firm with 1,000 employees:

may be classified as a small business depending upon the size of other firms in the industry.

Business owners who prefer to maintain their businesses at a manageable size are called:

micropreneurs

Entrepreneurs looking for a business that gives them the best opportunity to get rich should consider starting a business in:

the manufacturing sector.