Asked by Alessandro Godina on Apr 27, 2024
Verified
Small businesses have a high success rate.
Small Businesses
Enterprises that are independently owned and operated, characterized by a small number of employees and relatively low volume of sales.
Success Rate
The proportion or percentage of attempts that result in success, often used as a metric to gauge the effectiveness of a particular strategy or process.
- Recognize different stages in the life cycle of entrepreneurial firms and the specific challenges and activities associated with each stage.
Verified Answer
VR
Victoria RochelleApr 29, 2024
Final Answer :
False
Explanation :
The statement is false. Small businesses actually have a high failure rate, with around 20% failing within their first year and around 50% failing within their first five years.
Learning Objectives
- Recognize different stages in the life cycle of entrepreneurial firms and the specific challenges and activities associated with each stage.
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