business 101 Chapter 5
Minority-owned businesses represent __________ percent of all privately held firms.
17.6
Minority-owned firms are growing at a rate of ___ percent.
30
The SBA considers businesses with up to ____ employees to be small businesses.
500
Approximately ___ percent of new employer businesses fail within the first five years.
70
Approximately ____ percent of U.S. businesses are classified as small businesses.
99
____ is the process of creating and managing a business.
Entrepreneurship
A franchisee is a company that sells a franchise.
False
The __ is an independent agency of the federal government that offers managerial and financial assistance to entrepreneurs.
SBA
When the founder of a Massachusetts waste-disposal firm spent $16 million on a hazardous-waste incinerator project, believing that the project would benefit the environment and the community, despite local residents' objections, he may have had:
a poor business concept.
The ____ of the energy market and interest in alternative fuels has spawned many small businesses.
deregulation
An owner who uses personal assets to start a business is employing ____ financing.
equity
An organization that sells a license to use its products or name is a:
franchiser.
One of the attractive features of franchising is that:
franchisers have well-known names and products.
Few businesses make money:
from the start.
A business plan addresses how a business will achieve its ____.
goals
Initially, the factor that probably affects a company's reputation more than anything else is poorly managed:
growth.
Small businesses produce 55 percent of ____.
innovations
Franchising involves providing a(n) ____ to sell another's products, use another's name, or both.
license
Venture capitalists provide funds to a business in exchange for ____ interest.
ownership
The shortest path to failure in a small business is:
undercapitalization.