Chap 5 Flashcards
(15 cards)
___ is one of the personality characteristics commonly found among entrepreneurs
Self-confidence
When an entrepreneur is comfortable with uncertainty and willing to take risks, these are indicators of someone with a(n)
high tolerance for ambiguity
Almost __ percent of Canadian businesses meet the definition of “small business” used by Industry Canada
98
when a business owner sells to another person the right to operate that business in another location, this is a
franchise
a small business owner who is concerned about passing the business on to heirs after retirement or death should prepare a formal ___ plan
succession
Among the most common reasons that new small business start-ups fail is___
lack of business expertise
When a new business is quick to capture a market niche before competitors, this is called____
an initial public offering
When a small business is just starting, the business owner is typically struggling to ___
gain acceptance in the marketplace
A venture capitalist who receives an ownership share in return for investing in a new business is providing ___ financing
equity
In ____ financing the business owner borrows money as a loan that must eventually be repaid, along with agreed-upon interest to the lender
debt
___ take ownership shares in a new venture in return for providing the entrepreneur with critical start-up funds
Angle Investors
Among the forms of small business ownership, a ___ protects the owners from any personal liabilities for business losses
corporation
The first component of a good business plan is usually
an executive summary
current trends in small business ownership in Canada would most likely show that ___
the majority of small businesses conduct some business by internet
If new venture has reached the point where it is pursuing an IPO , the frim is most likely __
Successful
