What is the primary distinction between an entrepreneur and a small-business owner?
Explanation
This question assesses the understanding of the core conceptual difference between entrepreneurship, which is centered on innovation and change, and small-business management, which may involve maintaining an existing, smaller-scale operation.
Other questions
What was the amount of savings the Aguerre brothers invested in 1984 to manufacture their own line of beach sandals?
Which category of entrepreneur applies their creativity, vision, and risk-taking within a large corporation rather than starting their own company?
Based on the statistics provided in 'The Economic Impact of Small Business' table, what percentage of U.S. businesses have no employees?
Which of the following is described as a key personality trait of most entrepreneurs, setting them apart from small-business owners and managers?
To secure working capital for his expanding lemonade stand business, what was the amount of the first loan Jack Bonneau obtained from Young Americas Bank?
Which of the following defines an 'intrapreneur'?
What percentage of U.S. businesses with employees have fewer than 20 employees, according to the 'Economic Impact of Small Business' table?
Which element of a business plan shows who the firm’s customers will be, outlines the marketing strategy, and describes the firm's competitive edge?
What are the two primary forms of business financing described in the chapter?
What is the role of angel investors in financing start-up businesses?
What percentage of business owners raise start-up funds from personal accounts, family, and friends?
According to the Kauffman Foundation, what is the approximate failure rate for small businesses over a five-year period?
Which of the following is NOT listed as a common cause of business closure?
What is the function of Export management companies (EMCs) for small businesses looking to go global?
In 2016, what percentage of the U.S. workforce did small businesses employ?
What is the primary mission of the Small Business Administration (SBA)?
In the fiscal year ending on September 30, 2017, how much in loans did the SBA back for small businesses?
Which SBA program offers free management consulting through a volunteer group of retired executives?
What percentage of all new entrepreneurs fall between the ages of 55 and 64, according to a recent study by the Kauffman Foundation?
What is the definition of a multipreneur?
How much was the loan Miho Inagi received from her parents to help fund her bagel shop in Tokyo?
What is the primary function of the 'vision and mission statement' section in a business plan?
When buying an existing business, what is the purpose of including a noncompete clause in the contract of sale?
Approximately how many businesses in the United States have more than 500 employees?
According to the Kauffman Index of Main Street Entrepreneurship, what was the three-decade high for business survival rates, which was reached in 2016?
In the context of a business plan, what information is typically included in the 'Management plan' section?
Between 1997 and 2012, the number of Hispanic-owned businesses in the U.S. almost tripled from what starting number to what ending number?
Which of the following is NOT listed in the text as a key personality trait of most successful entrepreneurs?
What is the most common reason entrepreneurs cite for starting their businesses, according to the CEOs of the Inc. 500?
Who is credited with coining the term 'intrapreneur'?
Between 2007 and 2017, the growth rate for women-owned firms was how many times faster than the national average for all businesses?
What is the function of the 'Executive summary' in a business plan?
Typically, what percentage of total start-up financing comes from equity?
How is 'bootstrapping' defined in the context of financing a business?
What is the typical fee range charged by Export management companies (EMCs) for their services?
Which term describes an entrepreneur who starts a small business and plans for it to remain small, often for personal satisfaction?
What was the valuation of Philip Kimmey's dog-sitting network, Rover.com, in 2017?
Which section of a business plan would describe the manufacturing methods, operating facilities, and quality-control procedures?
According to the provided data, companies with fewer than 500 employees pay what percentage of America's payroll?
What is the primary difference in ambition between a growth-oriented entrepreneur and a micropreneur?
What was the gross revenue for Jessy Dover's handbag company, Dagne Dover, in 2016?
What is the primary function of Small Business Investment Companies (SBICs) as described in the chapter?
In 2016, what percentage of all employing firms in the U.S. had revenues exceeding 1 million dollars?
What factor primarily drove the increase in Main Street entrepreneurship activity in 2016?
What was the approximate number of Hispanic-owned businesses in the U.S. in 2012?
While entrepreneurs are considered risk-takers, what type of risk do most successful entrepreneurs prefer to take?
In 2016, what was the estimated revenue generated by the 11.6 million women-owned businesses in the U.S.?
What is the primary role of the marketing plan section within a business plan?
What type of financing is obtained from investment firms that specialize in financing small, high-growth companies in return for an ownership interest?