connect final - chapter 5

small businesses create about ___ of the new jobs in the u.s.

65%

small businesses must seek advise from outside experts in order to put together official documents such as leases, contracts, and partnership agreements. It is important to seek the advise of

an attorney

effective entrepreneurial teams combine

creativity with marketing and production experience

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

which statement explains of the reasons that people in the u.s. take the entrepreneurial challenge

its about independence and the opportunity to share the American dream

According to SBA's guideline's, a manufacturing firm with 1,000 employees

may be classified as a small business depending on the size of others un the same industry

business owners who prefer to maintain their business 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

one of the best places for young entrepreneurs to start shopping for a SBA loan is

the small business development center

intraprenures make use of WHAT to develop and launch new products and generate new profits

their employer's existing human, financial, and physical resources

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 with in a corporation to launch a new product and generate new profits is known as a(n)

intrapreneur

an entrepreneurial team consists of

experienced managers from different areas of business.

the SBA's __________________ program provides export- financing opportunities for small businesses

export express loan

Entrepreneurship is another name for management true or false

false

according to the spotlight on small business box, people in college are not ready to start their own business true or false

false

the primary concern of micropreneurs is to balance the risk of starting your own business with the desire to build a professional organization earning significant profits true or false

false

the two primary concerns of an entrepreneur starting a new business are planning and record keeping true or false

false

Successful small business owners are:

valuable sources for information since you can learn from their experiences.