Business 101

Who can own a small business?

• Only a college graduate
• Anyone
• Only someone with a lot of money
• Only smart people

What goods and/or services do small businesses provide? 

• Personal services
• Professional services
• Ready to eat food
• All of these and more

Why are small businesses important?

• About 10% of people work for small businesses
• There are about 100,000 small businesses in the US
• a. Nearly half of all jobs in America are working for small businesses
• There are 10,000 new jobs created by small businesses every year

How many people would be out of jobs if every small business closed tomorrow?

• 56,800
• 568,000
• 5,680,000
• 56,800,000

In 2015, how much revenue was generated by small business in just New York State?

• About $100,000
• About $1,000,000
• About $1,000,000,000
• About $1,000,000,000,000 

What are some of the challenges small businesses face (barriers to entry) in starting?

• Startup Funding
• Government Regulations
• Fear of Failure
• All of These

What does it take to start a small business

• A lot of money
• A lot of time
• A passion for something
• A lawyer

How can an individual help small businesses?

• Shop Small Business Satuday
• Advocate with small businesses in the community and with elected officials
• Patronize small businesses whenever possible
• All of these would help

How many small businesses are there in the US?

• About 29,000
• About 290,000
• About 2,900,000
• About 29,000,000

Why do people start small businesses?

• They have an original product or idea
• They see a need and decide to fill it
• They can't find a job so they create one
• Any of these reasons and many more