WorksheetsSmall Business
Total questions: 15
Worksheet time: 5mins
Which is a key trait of an entrepreneur?
Flexibility
Risk Taking
Creative Thinking
All of the above
Sally stated her business five years ago. The business brings organic produce to food banks and has grown 15% each year. What type of entrepreneur best describes Sally?
Social
Lifestyle
Growth
Gazelle
One of the first things someone needs to do before starting a business is to write which of the following?
A business plan
A loan application
A partnership statement
A franchise agreement
Which of the following is not a characteristic of a small business?
Less than 500 employees
Annual revenue no more than $7 million
Independently owned & operated
Considered dominant player in its industry
Steve wants to start a company. He has a rough draft of his business plan. He needs advice to help him through the start up process. The best source for Steve is
an angel investor
a SCORE volunteer
his parents
a bank loan officer
Kazuto is interested in starting a business. Which is a reason he should consider buying an existing business versus starting one from scratch?
He will operate a business which is tried and tested
He will work fewer hours
He will need less capital up front
All of the above
Weyland wants to buy a deli that is for sale, but the owner has put too high a value on the business's goodwill. Goodwill is
the value of the leftover products the deli gives to the foodbank
the value of the donations given to charity
the value of the business's reputation under the current owner
all of the above
Rebecca owns a business and has an idea for a new product but needs about $125,000 to take it to market. Her personal credit and savings are maxed out.
Credit cards
New business grant
Angel investor
Venture capital financing
Which of the following factors commonly leads to small business failure?
Not enough planning
Too much accumulated debt
Unanticipated personal sacrifice
All of the above
Rashid wants to start a consulting business. He needs a receptionist, a place to meet clients, and other aspects of an office. Which is a solution?
a mentoring group
an advisory board
a business incubator
an entrepreneurial team
Small businesses can have a positive impact on large businesses.
True
False
A social intrapreneur is someone who provides funding for those in 3rd world countries.
True
False
Although most small businesses have annual revenues of less than $39 million, there is no specific revenue set by teh SBA for small business.
True
False
A franchisee is required to pay the franchiser an ongoing fee.
True
False
Crowdfunding means putting a request for money on Facebook.
True
False
