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When the SBA makes a loan guarantee, banks are willing to consider riskier deals that
they normally would refuse.
Workers believe the actions of those in charge more than their words.
On the income statement, the cost of goods sold represents the total cost, excluding
shipping, of the merchandise sold during the year.
While equity capital represents the personal investment of the owner(s) of a business
and does not have to be repaid, debt capital is a liability that must be repaid with
interest in the future.
A critical marketing step is to clearly define their target market.
Entrepreneurs should not spend much time selecting a form of ownership for their
businesses because making the choice is merely a technicality, which has little impact
on the business and its owner(s).
The business and industry profile section of the business plan should cover existing and
anticipated profitability of firms in the targeted market segment and any significant
entry or exit of firms.
Entrepreneurship requires both left- and right-brained thinking.
