connect final

Entrepreneurship is another name for management.

• t

• f

An entrepreneurial team consists of

• managers with similar skills, abilities, and interests.

• experienced professionals from different areas of business.

• • a group of wealthy investors who share a vision for a product.

• • representatives from management, labor, and the government who work together to solve a company’s problems in a creative way.

Which statement explains one of the reasons that people in the United States take the entrepreneurial challenge?

• • It’s all about profits, and the chance to make a lot of money.

  
  

• It’s about independence and the opportunity to share in the American dream.

• • It’s about power and fame.

  
  

• • It’s about a lot of things, but it does not include personal achievement.

State and city governments have promoted facilities where new businesses can open up shop and share common services such as secretarial, accounting, and legal services. Due to their remarkable success rate, these __________Blank continue to grow in popularity.

• incubators

• • enterprise zones

  
  

• • intrapreneurial development centers

  
  

• • venture farms

Small businesses create about __________Blank percent of the new jobs in the United States.

• 25

• 65

• 45

• 85

According to SBA guidelines, a manufacturing firm with 800 employees

• would be classified as a large firm in the industrial sector.

• may be classified as a small business depending upon the size of others in the same industry.

• • is too small to achieve the efficiencies of large-scale production.

  
  

• • is classified as an S corporation.

Entrepreneurs looking for a business that gives them the best opportunity to get rich should consider starting a business in

• the manufacturing sector.

• the food service industry.

• • a low-risk industry.

• • the agriculture sector.

Successful small business owners are

• not good sources for information on starting your own business because they generally do not understand failure.

• valuable sources for information since you can learn from their experiences.

• • good sources of some information but likely to tell you to jump in without much funding.

• • potential competitors who should be avoided.

One of the best places for young entrepreneurs to start shopping for an SBA loan is a

• Small Business Development Center.

• • financial institution specializing in business loans.

  
  

• college or university financial aid office.

• • website for the Venture Capitalists Association.

Small businesses must seek advice from outside experts. In order to put together official documents such as leases, contracts, and partnership agreements, it is important to seek the advice of

• • a friend who has already started a business.

• a competitor in a similar business.

• an attorney.

• • a marketing expert.