Establishing the Agribusiness

_________________________ is the process in which you would start a business offering a product or service to the targeted customer.

• Proprietorship

• Partnership

• Entrepreneurship

• Internship

Typically, what is the first step of the entrepreneurial process?

• Obtaining financial resources to start the business

• Analyzing the practicality and feasibility of the business

• Hiring employees

• Plan for growth & expansion

A _________________________ is an explanation of your company’s purpose. It can be used to express the core values of your business.

• Mission Statement

• Business Equity Statement

• Vision Statement

• Program Statement

_________________________ is the selling price of a product.

• Breakeven Price

• Target Price

• Price Point

• Price Metric

A _________________________ is an explanation of the desired future position of the company.

• Mission Statement

• Business Equity Statement

• Vision Statement

• Profit/Loss Statement

_________________________ is the quantity of items sold over a specified period of time.

• Sales Revenue

• Sales Value

• Sales Volume

• Net Sales

Collateral is:

• Money borrowed from a lending institution that must be paid back in a specified amount of time

• Loan to purchase an existing small business

• Interest generated on a small business loan

• Something of value pledged as security for repayment of a loan

Starting a new business usually requires a large amount of capital. Business capital is:

• Income generated from the primary operations of a business

• Funds dedicated to the repayment of business loans

• Money or other assets available for specific purposes such as investment

• Represents the value of supply inventory

_________________________are rules used to govern how a specific property is intended to be used within a geographic area.

• Zoning Laws

• Building Codes

• Property Encroachment

• Principal Meridians

_________________________is a form of business funding where an investor provides capital in exchange for equity in the company rather than debt

• Peer to peer lending

• Venture Capital

• Crowdfunding

• Small business administration loans