Small Business & Entrepreneurship

What is a important item for a small business that acts like a blueprint for the company's success.

• A strong business plan

• A large number of employees

• High product prices

• Little to no marketing

Why is customer service important for small businesses?

• It helps reduce production costs

• To retain repeat business

• It decreases employee needs

• It eliminates the need for marketing

How can small businesses market their products effectively?

• By ignoring social media

• By using low-cost or free marketing outlets

• By increasing product prices

• By reducing customer service

What is the result of having satisfied employees in a small business?

• They decrease production costs

• They put forth the effort to help the company grow

• They reduce the need for marketing

• They increase customer complaints

When consumers shop at local small businesses, they are essentially giving money back to their _______.

• high-paying jobs

• local community

• luxury products

• competition

As of 2018, how many small businesses were there in the U.S.?

• 10 million

• 20.2 million

• 30.2 million

• 40.2 million

What can a thriving small business improve throughout a community?

• Traffic congestion

• Property values

• Pollution levels

• Crime rates

Adapting to Changing Climates:

Small businesses are often very ______ and understand the needs of the community.

• low maintenence

• low cost

• technology friendly

• customer-oriented

Growing a Small Business to a Corporation:

Small businesses that grow into large businesses often remain in the community in which the business was first established.

• True

• False

Performing above and beyond the customer's expectations is a critical part of small business success.

• True

• False