Exam 1: Starting Your Small Business

Most of the growing industries are dominated by large companies.

Which of the following is characteristic of a small business owner?

Which of the following is true about the final stage of the growth pattern that small businesses tend to follow?

Which of the following nurture young firms and help them to survive and grow during the startup period when they are most vulnerable?

While the usual incubation period of a business is two to three years, 30 percent of incubator clients typically graduate each year.

With advances in technology, many tasks in the health care industry are now performed by highly-paid and skilled workers.

_____ is the fundamental redesign of a business, often resulting in reduction in size and markets.

An entrepreneurial venture may never grow large, and the owners may not want it to, as they prefer a more relaxed and less aggressive approach to running the business.

An entrepreneurial venture is characterized by:

With so much time, money, and energy devoted to the business, small business owners tend to have more zeal and devotion than managers of big companies.