Entrepreneurship- Business Plan Section 2

Which is not a reason for developing a Business Plan

• Obtain financing
• To give the stock market a preview
• Help organize and analyze data
• Provide a startup proposal

Which of the following plans presents expansion ideas?

• Marketing Plan
• Expansion Plan
• Growth Plan
• Management Plan

Burt is financing a new company. Which is not a way he could finance his company?

• Small Business Administration
• Friends
• Banks
• Internal Revenue Service

Which could cause business to run short on funding?

• Failure to apply for loans or grants
• Failure to pay taxes
• Shortage of trained employees
• Failure to secure a permit

Which could cause company to recognize there is no demand for a product

• Failure to secure partners
• Failure to apply for loans
• Failure to conduct market research
• Business owner did not complete Financial Statements

What could cause a bank or credit union to refuse funding a new business?

• Failure to hire employees
• Failure to select location suitable for expansion
• Business owner didn't complete financial statements
• Inadequate business name

Sales are slow for the first year, which is most likely a cause?

• Business owner didn't market its product well
• Business owner did not pay taxes
• Business owner failed to create an executive summary
• Failure to apply for loans

Business can protect designs and artistic work. The must apply for which of following?

• Patent
• Copyright
• Trademark
• Security and Exchange Commission

Barts Barbershop would like to legally prevent businesses from using his business name he needs

• Copyright
• License
• Patent
• Trademark

Are required of all profit-making business. If you refuse to pay fees and penalties will apply

• Loan
• Trademark
• Taxes
• Permits