The Challenges of Starting a Business

What is the primary characteristic of an entrepreneur?

• Following existing trends
• Taking risks and innovating
• Avoiding competition
• Relying on government funding

Which of the following is NOT a type of start-up firm?

• Lifestyle firm
• Gazelle
• Monopoly firm
• Small business

Entrepreneurs primarily focus on:

• Stability
• Innovation and growth
• Routine operations
• Maintaining the status quo

One key advantage of starting your own business is:

• Guaranteed profits
• Independence
• No financial risks
• Short working hours

A high-growth start-up firm is often referred to as:

• Lifestyle firm
• Gazelle
• Small business
• Franchise

What is a common challenge for entrepreneurs?

• Limited creativity
• Time commitment
• Government job offers
• Easy access to funding

Which of the following is NOT a characteristic of entrepreneurial activity?

• Innovation
• Risk-taking
• Waiting for opportunities
• Proactivity

Small business owners typically:

• Focus on innovation
• Aim for rapid growth
• Operate on a local scale

One difference between entrepreneurs and small business owners is:

• Entrepreneurs seek innovation
• Small business owners avoid profits
• Entrepreneurs dislike risks

Financial responsibility for entrepreneurs includes:

• Ignoring cash flow
• Managing budgets
• Spending without limits
• Only using savings