Entrepreneurs

Money needed to start or expand a business?

• Loan
• Financial Capital
• Savings
• Venture Capitalist

Who isn't an Entrepreneur

• Person hired to mow lawns
• Person who buys lawnmower to cut neighbors yard for $20

The process of turning an invention into a marketable  product

• Entrepreneurship
• Innovation
• Modification
• Deviation

This is the simplest form of business organization

• Limited Liability Corporation
• Corporation
• Sole Proprietorship
• Partnership

How many businesses in the US are organized as sole proprietorship?

• 33%
• 75%
• 25%
• 50%

Which is NOT an advantage of a sole proprietorship?

• Difficult to start
• Complete control
• Lower Taxes
• Fewer Regulations

This type of business organization involves two or more individuals who agree to contribute resources to the business in return for a share of the profit

• Corporation
• Sole Proprietorship
• Limited Liability Corporation
• Partnership

In this type of business organization partners share both in the responsibility for running the business and in any liability from it's operation

• Limited Partnership
• General Partnership

Which of these is not an advantage of a partnership?

• Difficult to start
• Few government regulations
• Lower Taxes
• Shared Decision Making

The legal obligation to pay any debts of the business.

• Financial considerations
• Asset
• Liabilty