INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -An individual can start many businesses with low or no investment. Various businesses that start from home save money on overhead costs and inventory. With the growth of technology, individuals can market the business online to attract customers and grow the business.
Detailed explanation-2: -No, because “A person needs a lot of money to start a business” is only a misconception. Every business does not need a lot of capital to start. We can start a business with less money. Once we make more money, we can put that into our business to make it bigger.
Detailed explanation-3: -Startup capital is what entrepreneurs use to pay for any or all of the required expenses involved in creating a new business.
Detailed explanation-4: -Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. Write your business plan. Fund your business. Pick your business location. Choose a business structure. Choose your business name. Register your business. Get federal and state tax IDs. More items