Entrepreneurship - Chapter 3

Skills and experience of the leadership team would occur in the ________ section of the business plan.

• introduction
• marketing
• financial management
• conclusion

When presenting information to a potential investor it is best to avoid mentioning competitors.

• True
• False

An appendix of a business plan may include all of the following EXCEPT

• financial statements
• required licenses
• tax returns for the owner
• executive summary

Making a profit should only be considered a long term goal.

• True

• False

All are main purposes of a business plan EXCEPT

• explain product uniqueness
• describe who will operate the business
• define goals
• choose suppliers

Describing prospective customers would show up in the __________ section of the business plan.

• introduction
• marketing
• financial management
• operations

A business plan may help you secure financing for your business.

• True
• False

a joint effort of the private sector, the educational community, and federal, state, and local governments

• SBA
• SBDC
• SCORE
• trade association

Most entrepreneurs will spend an average of 5-10 hours writing a business plan.

• True
• False

Bankers and accountants can provide information about loans and financial statements.  These are known as _____________.

• financial institutions
• professional consultants
• SCORE mentors
• CEOs