BUS 101 Ch. 6

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Which of the following sources of investment is the least likely type available to entrepreneurs?

Venture capitalists.

Business owners who prefer to maintain their businesses at a manageable size are called:


A business’s size is measured:

in relation to other firms in its industry.

A __________ is a written document that details the business idea, the target market and the business’s competitive advantage, financial resources available for the business, and the qualification of the management.

business plan

The U.S. government’s Immigration Act of 1990:

encouraged entrepreneurs to come to the U.S. through "investor visas".

The SBA’s ________ program provides export financing opportunities for small businesses.

Export Express loan

Affiliate marketing is a web-based business strategy that:

Rewards individuals who are willing to link a company’s website to their blog or social network page.

Which of the following government agencies is responsible for encouraging the development of small business?

Small Business Administration

According to SBA guidelines, a manufacturing firm with 1,000 employees:

may be classified as a small business depending upon the size of other firms in the industry.

The Small Business Administration defines a small business as a firm that:

is independently owned but not dominant in its industry.

One reason we have seen continued growth in home-based businesses is:

affordable computer and information technology makes it easier to compete.

Which of the following is a characteristic of successful entrepreneurs?


Successful entrepreneurs are self-nurturing. This means they:

believe in themselves and their ideas

When comparing small businesses to their larger competitors, it is clear that:

small firms often can offer more personalized customer services than big firms.

Enterprise zones are specific geographic areas that:

attract business investment by offering lower taxes and government support for development.

Effective entrepreneurial teams combine:

creativity with marketing and production experience.

Bankers and potential investors are likely to read ___________ first.

the executive summary

Chris is an angel investor. This means that he:

invests his money in new businesses with potential for growth, hoping for a good return on his investment if they go public.

For prospective entrepreneurs, enrolling in an introduction to business or small business management course offered through their community college:

can be helpful in knowing what are the right strategies in setting up and running a business

According to the U.S. Department of Commerce, a ________ of small businesses export their goods.

small percentage

A Small Business Investment Company (SBIC) is a(n):

private investment company that is licensed by the SBA to make loans to small businesses.

A successful web-based strategy that helps a business spread the word about its web site and products is called _____________.

affiliate marketing

Two key management functions that need particular attention when starting a business are:

planning and financing

Business incubators are usually government-funded facilities intended to:

offer startup firms low-cost office space and basic business services.

When seeking financial backing from a venture capitalist, a small business owner should realize that the venture capitalist will:

expect an ownership stake in the company in exchange for financial backing.

One of the challenges of running a home-based business is:

keeping work and family tasks separate.

The Small Business Administration’s microloan program awards loans to entrepreneurs based primarily on their:

integrity and sound business idea.

A creative person working within a corporation to launch new products and generate new profits is known as a(n):


________ are private individuals who invest their own money in potentially hot new companies before these firms become larger, publicly traded companies.

Angel investors

A(n) ________________ is a group of experienced professionals from different areas of business, within a company, who join together to develop, make, and market a new product.

entrepreneurial team

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