Question

match the business type to its description.
small business
entrepreneur
franchise
small business
entrepreneur
franchise
owned and managed by one individual or sometimes a small group of people with a focus on generating profits
an individual with an idea to offer an innovative product or service about which they are passionate
a business where the owner licenses their operations, products or services, branding, and knowledge for a royalty fee

Explanation:

1. A small business is defined as an entity run by one person or a small group, focused on profit generation.
2. An entrepreneur is an individual who creates and pursues an innovative product/service they care about.
3. A franchise is a business model where the owner licenses their business assets (operations, branding, etc.) for a royalty fee.

Answer:

• Small business: Owned and managed by one individual or sometimes a small group of people with a focus on generating profits
• Entrepreneur: An individual with an idea to offer an innovative product or service about which they are passionate
• Franchise: A business where the owner licenses their operations, products or services, branding, and knowledge for a royalty fee