INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Wikipedia (www.wikipedia.org/wiki/Entrepreneurship)
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The Project Management Institute (www.pmi.org)
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The Small Business Administration (www.sba.gov)
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The National Retail Federation (www.nrf.com)
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Detailed explanation-1: -Experts say some good first steps in starting a business are researching competitors, assessing the legal aspects of your industry, considering your personal and business finances, getting realistic about the risk involved, understanding timing, and hiring help.
Detailed explanation-2: -It defines small business by firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1, 500 employees). For example, according to the SBA definition, a roofing contractor is defined as a small business if it has annual revenues of $16.5 million or less.
Detailed explanation-3: -SBA only communicates from email addresses ending in sba.gov. If you are being contacted by someone claiming to be from the SBA who is not using an official SBA email address, you should suspect fraud.
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