How to Start a Business

How many steps did the article present for starting a business?

• 5

• 10

• 7

• 9

Which steps of starting a business were included in list presented in the article? (Select all that apply)

• Refine your idea

• Write a business plan

• Purchase an insurance policy

• Grow your business

• Brand yourself and advertise

Doing a quick search for existing companies in your chosen industry is a part of which step:

• Write a business plan

• Determine your legal business structure

• Choose your vendors

• Refine your idea

A ________________ helps you figure out where your company is going, how it will overcome any potential difficulties and what you need to sustain it.

• business plan

• partnership

• legal business structure

_______________ means that two or more people are held personally liable as business owners.

• Partnership

• Sole proprietorship

• Corporation

• Limited liability corporation

_____________________ is when you own the business entirely by yourself and plan to be responsible for all debts and obligations.

• sole proprietorship

• partnership

• limited liability

• corporation

According to the article, _________________ is one of the most common structures for small businesses.

• corporations

• limited liability corporation

What does EIN stand for?

• Employee Investment Name

• Everyone Is Needed

• Employer Identification Number

______________________ is a document that includes your business name, business purpose, corporate structure, stock details and other information about your company.

• Business plan

• Business license

• Articles of incorporation

Purchasing an insurance policy covers which of the following options? (Select all that apply)

• workers' compensation

• unemployment insurance

• property damage

• theft