Deck 1: The 21st Century Entrepreneur

Question 1

Approximately 66 percent of all net new jobs are added by small businesses.

Answer 1

True

Question 2

The small business sector in the United States occupies 25 percent of all commercial space.

Answer 2

False

Question 3

Small businesses added 8 million new jobs to the economy.

Answer 3

True

Question 4

The profile of a millionaire is to have a high-technology company and a high-profile type of business.

Question 5

The largest percent of recipients of microloans are Hispanics.

Question 6

Microloans are available to different sizes of businesses in the United States, but are not yet available in other countries.

Question 7

Venture capitalists are a specialized type of investor; they typically do not invest their millions and expect extraordinary returns.

Question 8

A business plan allows the owner to put information down in writing allowing for evaluation and honest analysis.

Question 9

_________ are the growth engine of the economy.

A) large businesses
B) small businesses
C) Fortune 500 companies
D) medium-sized businesses

Question 10

_________ provide 55 percent of all jobs.

A) medium-sized businesses
B) large businesses
C) small businesses
D) Fortune 500 companies

Question 11

What percentage of businesses started out as small business?

A) 100
B) 75
C) 60
D) 50

Question 12

Fortune 500 companies employ _________ employees than 10 years ago.

A) more
B) same
C) fewer
D) younger

Question 13

The primary advantage for small business owners to start a business is:

A) desire to be own boss
B) potential for rewards
C) high salary
D) satisfaction of helping others

Question 14

According to the book, a small business typically has less than _________ employees.

A) 50
B) 75
C) 100
D) 125

Question 15

A business plan for a small business is developed with certain goals in mind. Which of the following is NOT one of these goals?

A) keep it relatively short (25 to 30 pages)
B) provide an opportunity for self-evaluation
C) act as a guide to managers of the firm
D) share critical information with competitors

Question 16

Small companies have flourished for all of the following reasons EXCEPT:

A) adapting more quickly
B) growing more rapidly
C) innovating and becoming more efficient
D) expanding in mature industries

Question 17

Which of the following is NOT a characteristic of a small business start-up?

A) has few, if any, employees
B) is funded by the founder or close associates of the founder
C) is organized to grow quickly
D) none of these

Question 18

Why is small business the growth engine of the U.S. economy?

Question 19

Describe the characteristics of a high-growth venture.