Exam 1: The Foundations of Entrepreneurship

One study conducted by the Global Entrepreneurship Monitor (GEM) reports that nearly one in eight people in the United States is working to start a business.

About 51 percent of new businesses fail within five years.

Which of the following is a characteristic of copreneurs?

Most entrepreneurs believe that ________ is what matters most, but ________ is the most important financial resource for a small business owner.

Ninety-percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S. employment.

About 20 percent of downsized corporate managers have become entrepreneurs.

Globally, one in eight adults is actively engaged in launching a business.

The demographic attributes of successful entrepreneurs are ________.

The only people who ________ are those who never do anything or never attempt anything new.

Entrepreneurs typically possess ________.

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

The young, job-creating small companies are known as ________.

Entrepreneurs tend to be overly ________ and commonly misjudge the ________ requirements of going into business.

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

________ percent of all U.S. businesses are family-owned and managed.

Entrepreneurial couples who work together as co-owners of their business are referred to as ________.

Nearly ________ of entrepreneurs start their businesses between the ages of 20 and 44 and the number of Americans in that age range currently is ________ .

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

Women in business still experience ________ as they attempt to break the "glass ceiling."

"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.