Principles of Business - Chapter 6

Most of the money needed to start a new business comes from

• the sale of stock

• credit given by businesses

• personal and business loans

• the entrepreneur and his/her family

All entrepreneurship opportunities emerge from inventions and innovations.

• True

• False

Successful entrepreneurs tend to have all the following characteristics EXCEPT

• energetic

• goal-oriented

• creative

• hesitant

What is the LEAST important factor in becoming an entrepreneur?

• living in a major U.S. city

• having special skills & abilities

• desire to be your own boss

• developing a good business plan

If you start a new business, you need information about

• competitors

• government regulations

• customers

• all of the above

Why is location important to small businesses?

• Most need good foot traffic to survive

• many will stay away if it's not easy to find

• customers don't want to travel far

• all of the above

The federal agency that helps small business owners obtain financing and other support is known as

• OSHA

• Chamber of Commerce

• Small Business Administration

• Proprietorship

Money provided by large investors to finance new products/businesses is known as

• venture capital

• Inventory

• Small Business Administration (SBA)

• entrepreneurship

The type of financing needed for the main resources that will last for many years is called

• start-up financing

• short-term financing

• long-term financing

• inventory financing

Almost all people starting small businesses have graduated from

• high school

• college

• doctoral program

• business school