Which of the following would an entrepreneur typically not need to start a new company:Question 25Select one:a.Product or service likely to be profitable and sustainableb.Previous business experiencec.Source of start-up moneyd.A board of directors
Question
Which of the following would an entrepreneur typically not need to start a new company:Question 25Select one:a.Product or service likely to be profitable and sustainableb.Previous business experiencec.Source of start-up moneyd.A board of directors
Solution
The answer is d. A board of directors. While having a board of directors can be beneficial in providing guidance and making major company decisions, it is not typically necessary to start a new company. An entrepreneur would definitely need a profitable and sustainable product or service, some source of start-up money, and while not absolutely necessary, previous business experience can greatly increase the chances of success. However, a board of directors is usually something that comes into play later on in a company's development.
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