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Starting Your Business Quiz

Authored by ROSALIA RICO

Education

8th Grade

Used 1+ times

Starting Your Business Quiz
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in starting a business according to the SBA guide?

Register your business

Pick your business location

Conduct market research

Write your business plan

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is a business plan important?

It is used to open a business bank account

It is a roadmap for structuring, running, and growing your business

It helps you choose a business name

It helps you apply for licenses and permits

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should you consider when picking a business location?

The color of the building

The proximity to your home

The impact on taxes, legal requirements, and revenue

The number of windows

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key reason to conduct market research?

To apply for a business loan

To register your business name

To decide on your business structure

To find a competitive advantage for your business

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an EIN used for?

Choosing a business name

Writing a business plan

Conducting market research

Paying taxes and opening a bank account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the SBA suggest you do if you don't have enough money to start your business?

Wait until you save enough

Raise or borrow the capital

Cancel your business plans

Reduce your business size

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of registering your business?

To make it legal and protect your brand

To write a business plan

To choose a business structure

To conduct market research

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