INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What could cause a new business to run short of cash during its first year?
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Failure to apply for a loan or a grant
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Failure to pay taxes for the new business
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Failure to secure proper permits and licenses
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Failure to pay the employees
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Explanation:
Detailed explanation-1: -According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.
Detailed explanation-2: -Lack of research. Not having a business plan. Not having the business funding they need. Financial mismanagement. Poor marketing. Not keeping abreast of customer needs or the competition. Failing to adapt. Growing too quickly. More items •06-Jul-2021
There is 1 question to complete.