A Friend of Yours Has Recently Received His MBA

question 197

Multiple Choice

A friend of yours has recently received his MBA.He wants to open his own business but feels that it might be too risky at this point in his career.As an SBA counselor, you are able to advise him and explain more clearly to him some of the advantages and disadvantages of starting a small business.Which of the following statements best represents something you might tell him?

• A) Although opening a small business is risky, there is practically unlimited potential.
• B) The cost of opening a small business is relatively low, and financing is easily obtained.
• C) Record keeping will be complicated, and public disclosure of most transactions is required.
• D) Small businesses foster personal relationships.
• E) Opening a small business is especially difficult because there is little help available for those desiring to do so.

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Definitions:

Borders

Boundaries or lines that define the edges of a country, territory, or area, often associated with regulatory or legal implications.

Rules

Established and authoritative principles or guidelines that govern behavior or the operation of systems or processes.

Arbitrary

Stemming from unpredictable preferences or spur-of-the-moment desires rather than through structured reasoning or organized principle.

Five Ws

A fundamental journalistic concept focusing on questions: Who, What, When, Where, and Why, to gather comprehensive information.