Exam 1: The Foundations of Entrepreneurship

Describe the small business failure rate. What are the primary causes of business failures, and what steps can an entrepreneur take to avoid becoming a business failure statistic?

To boost sales, small businesses, especially start-ups, should grant credit to anyone who wants to buy their products or services.

A major advantage of launching a business part-time is the lower risk it offers in case the business fails.

Discuss the potential benefits and drawbacks of entrepreneurship.

Factors that feed the economic boom behind entrepreneurship include ________.

Which of the following is not one of the forces driving the entrepreneurial trend in our country?

The Kauffman Foundation reports that nearly one out of ________ entrepreneurs in the United States start businesses of their own because they cannot find jobs elsewhere.

"Gazelles" are those businesses that grow at 20 percent or more per year for four years and gross at least $100,000 in annual sales.

Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again are known as ________ entrepreneurs.

Research has isolated a set of characteristics that can predict who will succeed as an entrepreneur.

Women now own 31.1 percent of all privately-held businesses in the United States.

About 20 percent of downsized corporate managers have become entrepreneurs.

"Copreneurs" are defined as ________.

Discuss the impact of small businesses on the U.S. economy, including sales, GDP, job creation, and innovation.

The primary cause of small business failure is lack of capital.

Small companies ________.

Entrepreneurs can increase their chances for success if they ________.