INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Small Business Administration
|
|
|
Service Corps of Retired Executives
|
|
|
Customer analysis
|
|
|
None of the above
|
Detailed explanation-1: -Small Business Administration (SBA)-Federal agency that provides assistance to current and prospective small business owners.
Detailed explanation-2: -Loan Guarantee Programs Government agencies such as the U.S. Small Business Administration provide loan guarantees to small businesses and encourage local banks to work with start-ups or established companies that want to expand. Talk to your banker about state or federal loan programs that offer low interest rates.
Detailed explanation-3: -In simple terms, business administration is the work of managing an organization’s resources, time and people. Business administration professionals work to ensure that businesses and organizations are run effectively, efficiently and profitably.
Detailed explanation-4: -Bootstrapping. The funding source to start with is yourself. Loans from friends and family. Sometimes friends or family members will provide loans. Credit cards. Crowdfunding sites. Bank loans. Angel investors. Venture capital.