Exam 6: Entrepreneurship and Starting a Small Business

Small Business Investment Companies (SBICs) are privately owned companies licensed by the Small Business Administration to lend money to small businesses.

Which of the following statements is characteristic of entrepreneurs?

Small business employees

If you were to begin gathering information on a particular type of business, it is doubtful that a community college class would benefit your search because the information you would gain is too generic in nature.

A good business plan describes the nature of the proposed business, the target market, the competitive advantages, and the qualifications of the owners.

Timothy, Jude, and Eric are working in the marketing department of a multinational corporation. They each have similar backgrounds and experience and are thinking about leaving their current company to start their own business. Successful entrepreneurial teams are comprised of these types of people because similarities in knowledge and skill ensure harmony and consistency in their new business.

Small businesses create about ________ percent of the new jobs in the United States.

Some people argue that small business failures are

The best way to learn about small business is to "bite the bullet" and start your own.

Which of the following sources of investment is the LEAST likely type available to entrepreneurs?

Small businesses have not significantly participated in online sales.

Increased participation in small business exporting owes credit to ________.

By passing the Immigration Act of 1990, the U.S. government acted to encourage entrepreneurs to immigrate to the United States.

Because college students realize the importance of nursing homes for our aging population, students comprise an attractive market for nursing home insurance policies.

The Making Ethical Decisions box "Should You Stay or Should You Go?" addresses a dilemma worthy of consideration. It describes

Mini-Case Pepe Pieman believes that pizza is a much more versatile meal than most people realize. As the national marketing manager for Pizza Pals, he has watched how consumers ate up barbecue pizza, Hawaiian pizza, Mexican pizza, and other new and unique combinations. His superiors, however, met his suggestions for other unusual pizzas with a negative response. Even some of his teammates laughed at his ideas. Pepe's confidence in his ability to understand the market has led him to focus on planning a business of his own. Pepe realizes that he will take a risk when he leaves his job with Pizza Pals and sets off on a new endeavor: Pepe's Pizzazzeria. Pepe is excited about the potential of profitably catering to the unmet desires of pizza consumers. -Pepe remains confident and enthusiastic even though his colleagues have poked fun at his ideas. This shows that Pepe is

Luxe Labels, LLC, exports specialty printing equipment for the custom labeling, flexible packaging, and carton industry. Thanks to increased support from ________, this company's sales to Brazilian companies and other global opportunities have significantly increased.

The U.S. government offers investor visas to attract more entrepreneurs.

Using the analogy of boulders vs. sand for filling a hole, the textbook points out that

A Small Business Investment Company (SBIC) is a(n)