Exam 5: Small Business, entrepreneurship, and Franchising

Technological advances have resulted in fewer opportunities for small businesses abroad.

Many financial institutions decide whether to loan a small business money based on its

Small businesses cannot be operated from an individual's home.

Entrepreneurship is the process of creating and managing a business to achieve desired objectives.

Echo boomers are sometimes called millennials or Generation Y and are an important market for small businesses.

Retailers purchase goods and resell them to consumers and some distributors.

What is not a decision that Jack and Bruce have to make before starting their business?

Your textbook uses the term small business to refer to an owner-managed business that employs not more than

Which of the following is not a common cause of small business failure?

One of the major reasons people want to own and operate their own business is to

It is difficult to define small business because smallness is relative.

Relatively low start-up costs are an advantage of a small business.

What are intrapreneurs?

Why do small businesses have a high failure rate?

The ______ sector accounts for the majority of jobs in the United States.

Evaluate the idea of a low-fat cookie and muffin retail store.

Worries about new equipment,expanding inventory,rent increases,competition,changing market conditions,and the like may contribute to

The most important source of funds for any new business is the employees.

Retailing,services,manufacturing,and high technology are attractive to entrepreneurs because these fields tend to be relatively easy to enter and require low initial financing.

One advantage that small businesses have over large businesses is that they