FBLA Entrepreneurship

American Enterprise Day was established by: 

• Ronald Reagan on Nov. 15, 1985
• Jimmy Carter on Oct. 3, 1980
• George Bush on Oct. 3, 1980
• Bill Clinton on Nov 15, 1980

Which of the following are available for small businesses to help them start their business?

• grants
• loans
• venture capital
• all of these

What organization offers a tool for entrepreneurs to use to help them determine the licenses and permits they need to establish their business?

• Small Business Administration
• Entrepreneurship Administration
• Small Business Association
• Entrepreneurship Association

Which of the following is NOT included in a business description?

• explanation of how products & services will meet customer needs
• list of consumers and organizations the company will serve
• company slogan
• competitive advantages

When planning your business, what is one of the first steps you should take?

• determine your financing
• determine your location
• determine your target audience
• determine your employee policies

Which part of the business plan deals with historical data regarding the company's performance?

• Market analysis
• Funding request
• Executive summary
• Financial projection

The part of the business plan that covers product information and life cycle.

• Executive summary
• Service or product line
• Organization and management
• Market analysis

The part of the business plan that includes ownership information, job descriptions and job titles.

• Executive summary
• Market analysis
• Organization and management
• Product or service line

What is the appendix of the business plan for?

• Give job titles and ownership information
• Display supporting documents
• Give market analysis
• Ask for funding

Which of the following IS an advantage of entrepreneurship?

• Be your own boss
• Risky activity
• Set schedule
• Uncertain income