Which of the following is NOT one of the advantages of owning a small business?

Once Arnold Patel had decided he wanted to quit working as a Web designer for a large advertising agency and go into some kind of business for himself, he did a self-assessment, which indicated that he had an entrepreneurial spirit. His next step will be to:

_____ is at the core of most business failures.

A business plan:

A common use of business plans is to:

_____ financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period.

Who provides the start-up financing for the majority of new small businesses?

Michael Bronner made a killing in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His newest venture, Upromise Inc., enlists some of America's largest corporations to help families pay for college and is extremely successful. The 40-year-old Bronner will more than likely start at least one more new company before he retires because Bonner is a(n):

Marc Adler is the owner of Macquarium, a multimillion-dollar communications company that does everything from video productions to creating Web sites to public relations campaigns. Macquarium has done this sort of work for BellSouth and SnapOn Tools. Even though these companies could have prepared their videos and created their Web sites in-house, these tasks were:

Small Business Investment Companies (SBICs):

Entrepreneurs are people with vision, drive, and creativity, who are willing to take the risk of starting and managing a business to make a profit.

Inadequate early planning is often at the core of small business failures.

The Small Business Administration (SBA) assists small businesses by providing advice in management and financial matters.

Direct Small Business Administration (SBA) loans are made from funds set aside each year by Congress.

Entrepreneurs typically are innovators who start companies to pursue their ideas for a new product or service.

It is not advisable for small businesses to use the services of CPAs and lawyers because most businesses are too small to afford the expense.

The two sources for debt financing are angel investors and venture capitalists.

One of the reasons small businesses continue to thrive in the United States is outsourcing.

Entrepreneurial activities are not influenced by changes in the external environment.

Minorities are not interested in becoming entrepreneurs.