If a business has a lien against any of its assets at the time of the sale, the buyer must assume them and is financially responsible for them.

Having access to capital is called entrepreneurial readiness.

Every business is characterized by a set of controllable variables that determines the relative success (or lack of it) of market participants called ________.

Most home-based businesses are simple cottage industries such as crafts or sewing.

Employee assistance programs (EAPs) are an effective weapon in the battle against workplace substance abuse.

“Gazelles” are those businesses that grow at 20 percent or more per year for four years and gross at least $100,000 in annual sales.

The creative process involves seven distinct steps including preparation, investigation, transformation, incubation, illumination, verification, and implementation.

Consumer rights are governed by the ________.

Gathering competitive intelligence, such as “dumpster diving” in a competitors’ trash, may raise questions regarding ________.

In the business and industry profile section of the business plan, the entrepreneur should provide information on the size of the market, growth trends, and the relative economic and competitive strength of the industry’s major players.