INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What percentage of business owners do you think use money of their own, or from their families, to start or buy a business?
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less than 20 %
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between 40% and 60%
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between 20% and 40%
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more than 60 %
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Explanation:
Detailed explanation-1: -People turn to entrepreneurship because 29% want to be their own boss. However, about 20% of businesses fail within the first year if there’s no market for their product or service.
Detailed explanation-2: -What Percentage of the Population are Entrepreneurs? Entrepreneurs make up 16% of the adult workforce in the United States.
Detailed explanation-3: -According to the U.S. Small Business Administration, most microbusinesses cost around $3, 000 to start, while most home-based franchises cost $2, 000 to $5, 000. While every type of business has its own financing needs, experts have some tips to help you figure out how much cash you’ll require.
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