INTRODUCTION TO ENTREPRENEURSHIP
TYPES 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: -Seventy percent of restaurants fail within their first three to five years of business. That is higher than the fifty percent rate of small businesses that fail after five years.
Detailed explanation-2: -What we know about the failure rate of small businesses. According to data from the Bureau of Labor Statistics, as reported by Fundera, approximately 20 percent of small businesses fail within the first year. By the end of the second year, 30 percent of businesses will have failed.
Detailed explanation-3: -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