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Exam 6: Entrepreneurship and Starting a Small Business

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Question 31

Multiple Choice

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

A) Angel investors
B) Small Business Administration loans
C) Venture capitalists
D) Family and friends

E) A) and B)
F) A) and D)

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Question 32

Multiple Choice

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One reason why many U.S.small businesses are not involved in exporting is:

A) there is a limited market for their products.
B) the government's new homeland security programs limit opportunities for small businesses.
C) many of these firms do not know how to get started.
D) U.S.products are perceived as inferior.

E) C) and D)
F) None of the above

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Question 33

Multiple Choice

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The Small Business Administration sponsors volunteers from industry,trade associations,and education who offer advice to small business owners.These volunteers are called:

A business is considered small by comparing its size to others in the same industry.

With fewer employees and less revenue,small businesses have less need for detailed records than do larger business organizations.

The small business sector that has the best chance of significant growth is legal services.

Many micropreneurs are home-based business owners.

According to the Making the Green Connection box,locavores are people who choose to eat only food grown within their local communities.

Bankers and investors require entrepreneurs to present a well-conceived business plan.

Due in part to government support,the majority of U.S.small businesses are involved in exporting.

Carlos hopes to start his own business.He needs to avoid talking to other small business owners about his plans because they might steal his ideas.

Small businesses can often provide more personalized customer service than bigger rivals.

If you plan to meet face-to-face with a banker or venture capitalist,it is not necessary to submit a business plan.

Historically entrepreneurs in the U.S.

Because of the stress of being in business for yourself,it's important that entrepreneurs have people around them to help replenish their enthusiasm.

Increased participation in small business exporting owes credit to ________.

Compared to employees of large businesses,small business employees are less satisfied with their work because they see their jobs as less challenging.

Micropreneurs are exempt from the local ordinances that restrict home-based businesses from operating in residential areas.

A National Business Incubator Association study indicates that over 80 percent of incubator graduates remain in business.

Most entrepreneurs are more interested in personal achievement than in power.