Exam 5: Considering Small Business Entrepreneurship and Franchises

What is the most common source of small business financing?

Vanessa's business plan provides some initial evidence of market demand for the product she plans to sell. This information is most likely found in which section of her plan?

What is one distinction that defines a small business?

Before seeking financial backing for his business, Tyler puts together a document explaining the goals, milestones, and projections for the business. What has Tyler constructed?

Mike's small company produces specialized hardware pieces. Why do his industrial clients prefer to purchase these parts from Mike?

Piotr owns a successful technology security firm and is seeking venture capital funding to grow his business. Which of the following can be a downside to accepting venture capital funding?

Which of the following is a carefully constructed guide for the person starting a business?

Small businesses represent the majority of companies in which of the following industries?

Susan believes that circumstances pretty much determine her opportunities and whether she'll succeed. Susan lacks which characteristic of a successful entrepreneur?

A business plan is a tool that assists with which three basic purposes in a business?

Hafiza considered purchasing a restaurant franchise but ultimately decided to create his own start-up from scratch. Which of the following is an advantage of establishing his start-up instead of purchasing the franchise?

The beginning of Vanessa's business plan contains a justification for why the business will succeed. What is this section called?

In Canada, it can take just a few days and less than a couple hundred dollars to start a business. What does this exemplify?

Josh lost his job after 20 years as a successful marketing specialist. Because Josh has a strong internal drive, he opened a marketing consulting firm and ended up making more money than he did as an employee. This is an example of which factor contributing to high levels of entrepreneurship?

Often small firms seek to establish a particular niche in the market that closely serves the needs of certain customers. When a number of small businesses operate in this manner, it forces larger businesses to recognize and account for their influence on the market. This is an example of small businesses doing which of the following?

Vanessa's business plan includes details about facility requirements and her launch schedule. This information is most likely found in which section of her plan?

Which of the following describes an individual's desire to create a new business?

Vanessa's business plan discusses her strategy for distributing and promoting her products. This information is most likely found in which section of her plan?

One of the reasons why Steve Jobs was a successful entrepreneur was his ability to take his ideas and turn them into actual products. His innovative and creative ideas and ability to excite others about the potential of these ideas relate to which of the following entrepreneurial characteristics?

Ten years ago when Anisa started a small business, it cost $10,000 to design and launch her website-and it didn't even have e-commerce capability. Now, she is able to launch an online store for less than $100 per month. Which factor contributing to entrepreneurship does this exemplify?