WaterPod Transport is the only company in the world to manufacture and sell personal submarines. The company is owned by a wealthy entrepreneur and has 50 employees and annual sales revenue of $3 million
Would the U.S. Small Business Administration consider WaterPod to be a small business?
What will be an ideal response?
Answer: No, the SBA would not consider WaterPod Transport to be a small business because the company is dominant in its field of operation. No other company makes or sells personal underwater transportation.
Explanation: A company must not be dominant in its field of operation in order for it to be defined as a small business by the SBA.
You might also like to view...
What are considered to be the cornerstones to the structural foundation of a business, how it operates, and how its tactical execution is tied to its strategic plan?
A. Organizational Structure, Culture and Management Approach B. Control Systems to Manage Strategic Intent C. Mechanisms for Effective Talent Management D. Operational Processes and Market Support & Alignment E. All of the above
Owners equity in the property is best described as the
A) Difference between the current market value in the amount owed. B) Difference between the original purchase price and the amount owed. C) Current market value of the property. D) Total outstanding debt against the property.