Lesson #1

  1. How many small businesses are found in the united states?
    23 million
  2. A current trend found in high schools, colleges, and universities includes the acceptance of _________ as part of their mission
    Small Business
  3. The growth rate for self employment is:
    Greater than the growth rate of the general work force.
  4. Entrepreneurship:
    Knows no age limits
  5. Which one is NOT one of the two conditions that must be met for business to be defined as "small business"
    Both the area of operations and the market are local
  6. A small business is often called:
    A micro business
  7. Small firms differ from their competitors because they tend to:
    Maintain close relationships with customers and the community.
  8. Smaller companies have become a controlling factor in the American economy by:
    Keeping the bigger concerns on their toes.
  9. The greatest problem facing small business owners is:
    Shortage of capital
  10. While some of the current trends are rewarding, which one of the following trends will challenge small business owners?
  11. A new business owners primary motive is usually:
  12. One of the most important functions business owners must perform is setting objectives. They do this because:
    Objectives give the business direction.
  13. A recent study found that almost________ of U.S. millionaires are entrepreneurs or business owners.
  14. Successful small business owners expect to:
    receive quick and concrete results from their investment of time and capital.
  15. To be successful in a small busniess, the new owners must:
    Cope effectively with government regulations
  16. One recent study suggests that the more professional technicians or other "knowledge workers" an industry has, the:
    Greater chance that will create new jobs
  17. Recent bureau of labor statistics figures indicate that around__________% of future employment in the fastest growing industries will likely come from small businesses .
  18. Which one of the following areas is a concern for small business owners as they succeed?
    The feeling of being trapped
  19. In a typical growth patter, the owner hires managers to run the firm during which stage of development?
    Stage 3
  20. Studies of the behavior of people who choose careers in small business show that failure results because they did not:
    Consider the location of their business.
Card Set
Lesson #1
Starting your small business