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