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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Expect the entrepreneur to have a well prepared business plan
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Expect to receive a share of ownership in the busineses
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Generally make loans only to small businesses in high-tech industries
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Offer only only very short-term financing
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Detailed explanation-1: -have sufficient confidence to succeed. be willing to take personal responsibility. have enough determination to work alone. dedicate as many hours as needed to the work.
Detailed explanation-2: -A business owner establishes credibility, and thus improves their chances of securing financing, by demonstrating their knowledge of their company’s past, present and future, or, to put it another way, by sharing their business plan.
Detailed explanation-3: -Line-of-credit loans. The most useful type of loan for a small business is the line-of-credit loan. This is a short-term loan that extends the cash available in your business’s checking account to the upper limit of the loan contract.
Detailed explanation-4: -Build the Initial Team. Few entrepreneurs can manage every aspect of a new business alone. File Necessary Legal Documents. Protect Intellectual Property. Advertising and Marketing. Official Business Launch. Review Business Performance and Progress. 05-Oct-2022