Small Businesses and Their Impact

What is a significant role of small businesses in the economy?

• Increasing unemployment

• Contributing to job creation

• Reducing exports

• Limiting technological advancement

Which of the following is NOT an example of a small business?

• A digital marketing agency

• A local bakery

• A boutique selling handmade jewelry

• A multinational tech company

What is the purpose of identifying a business idea?

• To copy existing products

• To find a market problem or unmet need

• To avoid competition

• To create a monopoly

How can you identify a business idea?

• By ignoring market trends

• By observing daily problems or trends

• By avoiding customer interaction

• By launching without research

What is the goal of idea validation?

• To avoid customer feedback

• To test your concept with potential customers

• To launch without testing

• To ignore market research

Which section of a business plan focuses on strategies to promote your product or service?

• Executive Summary

• Market Analysis

• Marketing Plan

• Financial Plan

Which type of business may need health certifications?

• Sole Proprietorship

• Partnership

• Corporation

• Food businesses

Which step is focused on Highlight unique selling points (USPs) and financial projections ?

• Identify and Validate a Business Idea

  
  

• Develop a Business Plan

  
  

• Legal Requirements

  
  

• Secure Funding

  
  

What is the primary focus of Step 4 in the document?

• Marketing Strategies

• Secure Funding

• Product Development

• Customer Service

Which of the following is NOT a pre-launch activity?

• Build excitement using social media

• Ensure product readiness

• Collect customer feedback

• Conduct quality checks