Intro to Business - Chapter 5

_____ are entrepreneurs who apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own. They enjoy a high degree of autonomy while receiving a regular salary and financial backing from their employer.

Intrapreneurs

_____ are individual investors or groups of experienced investors who provide funding for start-up businesses.

Angel investors

_____ are entrepreneurs who start a series of companies.

Multipreneurs

Privately owned and managed _____ are licensed by the SBA and provide long-term financing for small businesses.

Small Business Investment Companies

_____ is financing obtained from investment firms that specialize in financing small, high-growth companies and receive an ownership interest and a voice in management in return for their money.

Venture capital

Which of the following is NOT one of the advantages of owning a small business?

avoidance of taxes

A _____ is a formal written statement that describes in detail the idea for a new business and how it will be carried out.

business plan

The two forms of business financing are _____ (borrowed funds) and _____ (ownership funds).

debt; equity

Once small businesses hire employees, they can _____ to increase job satisfaction and retain their employees.

do all of the above

A common use of business plans is to:

persuade lenders and investors to finance the venture

Which of the following is a trend that is changing the face of entrepreneurship and small business ownership?

entrepreneurial diversity

International trade specialists that buy goods at a discount from small businesses and resell them abroad are called:

export trading companies

Which of the following is NOT a reason why small business thrives in the United States?

guaranteed profits

The Small Business Administration (SBA) offers a broad range of aids to small businesses. They include:

guarantees on loans made by private lenders

One way to ease the burden of managing a business is to:

hire outside consultants

Many classic entrepreneurs are _____ who start small and plan to keep their business small.

micropreneurs

Which of the following elements does NOT typically appear in a well-prepared business plan?

names of all employees

An entrepreneur is a person who _____ a business.

owns and operates

The first step in starting your own business is:

a self-assessment

All of the following are characteristics of an entrepreneurial personality EXCEPT:

the willingness to be a follower rather than a leader