Franchising Flashcards
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The primary reason many people become entrepreneurs is to
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make more money
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which of the following is NOT a significant drawback of getting into business by entering into a franchise agreement?
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franchising is generally considered to be the riskiest option for starting a business
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the majority of new small business owners rely heavily on __ to finance their start-ups
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personal sources, including family friends, and credit cards
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all of the following are entrepreneurial characteristics, EXCEPT
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aversion to risk
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People with an __ have a strong sense of personal responsibility for what happens in their lives.
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interal locus of control
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small businesses generate about __ of the U.S. gross domestic product
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50 percent
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__ would be most likely to help you develop a business plan
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The Small Business Administration
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The __ is supported by the Small Business Administration and provides comprehensive counseling for small businesses.
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Service Corps for Retired Executives
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Which of the following is the best description of a typical business plan for a small business? A business plan is a
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formal document, often 25-50 pages in length, that describes the company, sets forth its key objectives, and provides details as to how and when organization plans to achieve these objectives
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The __ is the federal government agency dedicated to maintaining and strengthening the national economy by aiding, counseling, assisting, and protecting the interests of small business
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Small business Administration
