Small Businesses

What are small businesses?

• Businesses that are owned by small people

• Businesses that sell small items for the community

• Businesses that are located to the consumers they are usually owned by sole trader

Advantages of small businesses to the community

• They sometimes offer credit facilities

• They offer goods and services for free

• They give the community money

Which one of these is not a characteristic of a small business

• The main objective is to maximize profits

• They are owned by the state

• They don't sell products in large quantities they break the products into smaller quantities

Which of one of these is an advantage of a sole trader

• They don't share the losses with anyone

• They don't share profits with anyone

• The owner is both a sleeping partner and active partner

What is a partnership business?

• A small business

• A business controlled by the government

• A business owned by two or more people

Which one of these is not a key challenge for small businesses ?

• A lack of capital

• A lack of time

• A lack of motivation

What is the most important factor in starting a successful small business?

• A good product and service

• A good marketing plan

• A lot of money

What is the most challenge faced by small businesses in the beginning?

• Hiring employees

• Managing cash flow

• Finding customers

What is the best source for financing in small businesses?

• Friends and family

• Loans

• Personal loans and grants

What is the money used to start a business called

• capital

• Loan

• Asset