Succeeding in the World of Work

Section 3: Getting Started in Your Own Business

Answers to Section Review

1. Answers will vary. Students should give reasons they would choose a given form of ownership.
2. Possible answers: the location of customers, condition of streets, proximity to thoroughfares, types of other businesses in the neighborhood.
3. Possible answers: sell shares to shareholders, prepare a business description and financial plan and then apply to lenders for financing.
4. Borrowing money from a relative has the potential to strain your relationship if you have difficulty repaying the loan.