BMNG6221 Entrepreneurship application quiz

Sipho wants to start a small food truck in Cape Town but has very little capital. Which funding option would be the most practical first step?

• Apply for a large commercial bank loan

• Approach family, friends, or small start-up grants

• Buy shares on the stock exchange

• Register a public company

A student creates an online clothing brand targeting university students through Instagram. What type of opportunity recognition is this?

• Identifying a niche market

• Corporate restructuring

• Government regulation

• Import substitution

Which organisation specifically supports small businesses and entrepreneurs in South Africa through funding and mentorship?

• Small Enterprise Development Agency

• United Nations

• World Health Organization

• FIFA

A young entrepreneur opens a recycling business that collects plastic from local communities and sells it to manufacturers. What type of entrepreneurship is this?

• Social entrepreneurship

• Corporate entrepreneurship

• Lifestyle entrepreneurship

• Franchise entrepreneurship

Thabo notices that many township residents struggle to access banking services. He launches a mobile payment service. What entrepreneurial skill is Thabo demonstrating?

• Opportunity recognition

• Risk avoidance

• Bureaucratic management

• Passive leadership

Which factor is considered a major barrier to entrepreneurship in South Africa?

• Too many skilled workers

• Lack of access to finance

• Too many government grants

• Too many business opportunities

A student launches a tutoring business but tests the idea with a few clients before expanding. What entrepreneurial approach is this?

• Incremental experimentation

• Market monopoly

• Corporate acquisition

• Mass production strategy

Which South African institution offers financial support for small businesses and entrepreneurs?

• National Youth Development Agency

• International Monetary Fund

• World Trade Organization

• Greenpeace

An entrepreneur opens a solar installation business due to frequent electricity shortages in South Africa. What type of opportunity is this?

• Problem-driven opportunity

• Random opportunity

• Imported opportunity

• Government-restricted opportunity

A group of students start a business together and share profits and responsibilities equally. Which form of ownership are they most likely using?

• Sole proprietorship

• Partnership

• Public company

• State-owned enterprise