ENTREPRENEURSHIP MIDTERM STUDY GUIDE

the small business administration is a state agency that does not help small business owners.

false

An innovation is an invention or creation that is brand new

true

A business plan does not have to be written because the business owner is well aware of the information in the plan.

False

Everyone who owns or manages a business is an entrepreneur

False

The primary reason that businesses started by entrepreneurs close is disagreements with business partners.

False

most small business owners enjoy being apart of the team.

False

A business plan is a written description of the business idea and how it will be carried out

True

An entrepreneur is someone who takes risk in starting a business to earn a profit.

True

Start up financing is the amount of money needed to open the business

True