The US government's Immigration Act of 1990 encouraged entrepreneurs to come to the US through investor visas.
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Enterprise zones and investor visas are examples of government programs that encourage economic growth through entrepreneurship.
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When seeking financial backing from a venture capitalist, a small business owner should realize that the venture capitalist will expect an ownership stake in the company in exchange for financial backing.
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Small businesses often have advantages in international markets. One advantage is individualized customer service as opposed to impersonal corporate bureaucracies.
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The Small Business Administration defines a small business as a firm that is independently owned but not dominant in its industry.
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When comparing small businesses to their larger competitors, it is clear that small firms often can offer more personalized customer services than big firms.
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One reason why many US small businesses are not involved in exporting is many of these firms do not know how to get started.
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One characteristic of entrepreneurs is that they look at problems and see opportunities.
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Effective entrepreneurial teams combine creativity with marketing and production experience.
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Business owners who prefer to maintain their businesses at a manageable size are called micropreneurs.
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Affiliate marketing is a web-based business strategy that rewards individuals who are willing to link a company's website to their blog or social media network page.
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Successful entrepreneurs are self-nurturing. This means they believe in themselves and their ideas.
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Using the analogy of boulders vs. sand for filling a hole, the textbook points out those small businesses can serve niche markets that larger firms do not serve well.
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The Small Business Administration's microloan program awards loans to entrepreneurs based primarily on their integrity and sound business idea.
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To be considered part of a market, an individual must have both a willingness to buy and the financial resources needed to buy.
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A detailed written statement that describes the nature of the business, the target market, the firm's competitive advantages, as well as the owner's resources and qualifications is a business plan.
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When starting a small business, it's important to remember learning from others and gaining relevant business experience improves the odds for success.
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A business plan is a written document that details the business idea, the target market, the business's competitive advantage, financial resources available for the business, and the qualification of the management.
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Small businesses create about 60-80% of the new jobs in the US.
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Successful small business owners are valuable sources for information since you can learn from their experiences.
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Small businesses often struggle in attracting qualified workers. This is because many jobs in small firms have low pay and few benefits.
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Business incubators are usually government-funded facilities intended to offer startup firms low-cost office space and basic business services.
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The outlook for small businesses in international markets is: the world is a larger and potentially more lucrative market than the US domestic market.
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Successful entrepreneurial teams bring a variety of talent to the business venture.
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The size of the world market is 6.9 billion.
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Small business employees often find more job satisfaction than their counterparts in big business.
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Although successful entrepreneurs are more tolerant of uncertainty, they strive to take calculated risks.
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A good business plan will describe all aspects of the business, including product, the target market, nature of the competition, any financial resources, and the owner's qualifications.
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A small business management course at a community college may offer entrepreneurs an opportunity to meet with experienced entrepreneurs and learn from their advice.
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One of the best places for young entrepreneurs to start shopping for an SBA loan is the Small Business Development Center.
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