Which of the following statements regarding business licenses and permits is incorrect?
A) Most business licenses and permits can wait until after a business is launched to be obtained.
B) A business license can typically be obtained at the city clerk's office in the community where the business will be located.
C) If a business will be run out of a home, a home occupation business license is often required.
D) Some business licenses are hard to get.
E) The business licenses and permits that are needed vary by city, county, and state.
Question 2
Which of the following factors is a negative as it pertains to the financial feasibility of a business venture?
A) Steady and rapid growth in sales during the first five to seven years in a clearly defined market niche
B) High percentage of recurring revenuemeaning that once a firm wins a client, the client will provide recurring sources of revenue
C) Inability to forecast income and expenses with a reasonable degree of accuracy
D) Internally generated funds to finance and sustain growth
E) Availability of an exit opportunity for investors to convert equity into cash
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Sample budget spreadsheet form for first year of business.
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