12 Questions
What is the primary motivation for individuals to start a small business?
To turn their passion or innovation into real success
What is one of the reasons why small businesses fail within their first year of operation?
Poor financial management
Who is the author and contributor at Forbes who discussed the risks of running a small business?
Houston, M.
What is the potential consequence of inadequate decision-making or management in a small business?
Financial crisis
What is the percentage of small businesses in the Philippines that fail within their first year of operation?
20%
Why is it essential for small business owners to understand financial risks and uncertainties?
To secure business operations in the long term
What is the main goal of financial risk management?
To minimize the potential effects of financial risks
Why do many small businesses rarely carry out detailed risk assessments and management strategies?
Due to a lack of human resources and budget constraints
What is the first step in financial risk management?
Identifying the risk
What is the primary purpose of this study?
To evaluate the financial risks faced by small businesses in Brgy. 175 of Caloocan City
What is the ultimate outcome of this study?
To develop an effective financial risk plan specifically tailored to the needs of small businesses in Brgy. 175 of Caloocan City
What is essential for every business to do?
To manage risks to reduce and minimize the loss exposure
Explore the journey of becoming a small business owner, from facing challenges to reaping rewards. Learn about the gratifying yet difficult aspects of starting a business and the key factors for achieving sustainable growth and success.
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