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Which of the following sources of investment is the least likely type available to entrepreneurs? |
Venture capitalists. |
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Business owners who prefer to maintain their businesses at a manageable size are called: |
micropreneurs |
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A business’s size is measured: |
in relation to other firms in its industry. |
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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 |
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The U.S. government’s Immigration Act of 1990: |
encouraged entrepreneurs to come to the U.S. through "investor visas". |
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The SBA’s ________ program provides export financing opportunities for small businesses. |
Export Express loan |
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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. |
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Which of the following government agencies is responsible for encouraging the development of small business? |
Small Business Administration |
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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. |
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The Small Business Administration defines a small business as a firm that: |
is independently owned but not dominant in its industry. |
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One reason we have seen continued growth in home-based businesses is: |
affordable computer and information technology makes it easier to compete. |
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Which of the following is a characteristic of successful entrepreneurs? |
Action-oriented |
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Successful entrepreneurs are self-nurturing. This means they: |
believe in themselves and their ideas |
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When comparing small businesses to their larger competitors, it is clear that: |
small firms often can offer more personalized customer services than big firms. |
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Enterprise zones are specific geographic areas that: |
attract business investment by offering lower taxes and government support for development. |
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Effective entrepreneurial teams combine: |
creativity with marketing and production experience. |
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Bankers and potential investors are likely to read ___________ first. |
the executive summary |
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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. |
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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 |
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According to the U.S. Department of Commerce, a ________ of small businesses export their goods. |
small percentage |
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A Small Business Investment Company (SBIC) is a(n): |
private investment company that is licensed by the SBA to make loans to small businesses. |
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A successful web-based strategy that helps a business spread the word about its web site and products is called _____________. |
affiliate marketing |
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Two key management functions that need particular attention when starting a business are: |
planning and financing |
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Business incubators are usually government-funded facilities intended to: |
offer startup firms low-cost office space and basic business services. |
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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. |
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One of the challenges of running a home-based business is: |
keeping work and family tasks separate. |
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The Small Business Administration’s microloan program awards loans to entrepreneurs based primarily on their: |
integrity and sound business idea. |
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A creative person working within a corporation to launch new products and generate new profits is known as a(n): |
intrapreneur. |
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________ are private individuals who invest their own money in potentially hot new companies before these firms become larger, publicly traded companies. |
Angel investors |
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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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