Ten Questions On Business Networking

1. BNI is a network that offers subscribers:

Increased referrals

Bimonthly newsletters

Participation in weekly meetings

All of the above

The correct answer is "All of the above" because the question asks what BNI offers subscribers, and all the options listed - increased referrals, bimonthly newsletters, and participation in weekly meetings - are included in the benefits provided by BNI.

Explanation

The correct answer is "All of the above" because the question asks what BNI offers subscribers, and all the options listed - increased referrals, bimonthly newsletters, and participation in weekly meetings - are included in the benefits provided by BNI.

2. The Women's Business Center in Mobile assists women in starting and growing successful small businesses. It is located at:

Mobile Business Innovation Center

Mobile Chamber of Commerce

University of South Alabama

Baldwin County Innovation Center.

The correct answer is the Mobile Business Innovation Center. This is because the Women's Business Center in Mobile is specifically mentioned as being located at the Mobile Business Innovation Center. The other options, such as the Mobile Chamber of Commerce, University of South Alabama, and Baldwin County Innovation Center, are not mentioned in relation to the Women's Business Center.

Explanation

The correct answer is the Mobile Business Innovation Center. This is because the Women's Business Center in Mobile is specifically mentioned as being located at the Mobile Business Innovation Center. The other options, such as the Mobile Chamber of Commerce, University of South Alabama, and Baldwin County Innovation Center, are not mentioned in relation to the Women's Business Center.

3. A bid match procurement meeting is conducted annually to link local businesses and contractors.The sponsor of this event is the:

Business Networking International

Small Business Development Center

Alabama Technology Network

Women's Business Center

The Small Business Development Center is the sponsor of the bid match procurement meeting. This is because the Small Business Development Center is an organization that provides resources and support to small businesses, including helping them connect with contractors and other businesses through networking events. Therefore, it makes sense that they would sponsor an event like the bid match procurement meeting, which aims to link local businesses and contractors.

Explanation

The Small Business Development Center is the sponsor of the bid match procurement meeting. This is because the Small Business Development Center is an organization that provides resources and support to small businesses, including helping them connect with contractors and other businesses through networking events. Therefore, it makes sense that they would sponsor an event like the bid match procurement meeting, which aims to link local businesses and contractors.

4. This entity links two-year colleges, the University of Alabama System, Auburn University and the Economic Development Partnership of Alabama together to solve the needs of the state's existing manufacturing industry. The name of this entity is:

Diversified Business Alliance

Alabama Business Leadership Employment Network

Urban Financial Coalition

Alabama Technology Network

The correct answer is Alabama Technology Network. This entity is a partnership that connects two-year colleges, the University of Alabama System, Auburn University, and the Economic Development Partnership of Alabama to address the needs of the state's manufacturing industry. The Alabama Technology Network focuses on providing training, consulting, and other resources to support the growth and competitiveness of Alabama's manufacturing sector.

Explanation

The correct answer is Alabama Technology Network. This entity is a partnership that connects two-year colleges, the University of Alabama System, Auburn University, and the Economic Development Partnership of Alabama to address the needs of the state's manufacturing industry. The Alabama Technology Network focuses on providing training, consulting, and other resources to support the growth and competitiveness of Alabama's manufacturing sector.

5. A Mobile chapter of a National organization that sponsors professional training and fellowship for minority business owners is the:

Small Business Development Center

Business Innovation Center

Urban Financial Coalition

Bladwin County Innovation Center

The Urban Financial Coalition is the correct answer because it aligns with the description given in the question. The organization mentioned in the question sponsors professional training and fellowship for minority business owners, and the Urban Financial Coalition is a national organization that focuses on providing financial education and assistance to minority communities. Therefore, it is the most suitable choice among the options provided.

Explanation

The Urban Financial Coalition is the correct answer because it aligns with the description given in the question. The organization mentioned in the question sponsors professional training and fellowship for minority business owners, and the Urban Financial Coalition is a national organization that focuses on providing financial education and assistance to minority communities. Therefore, it is the most suitable choice among the options provided.

6. The entity that provides information on getting the most business out of networking, networking organizations available and networking opportunities in Birmingham, Huntsville, Tuscaloosa, Gadsden, Anniston, and all cities in between is the:

Diversified Business Alliance

Business Networking in Alabama

Urban Financial Coalition

Business Leadership Network

Business Networking in Alabama is the correct answer because it specifically mentions providing information on getting the most business out of networking, networking organizations available, and networking opportunities in various cities in Alabama. This indicates that Business Networking in Alabama is the entity that focuses on networking and provides resources and opportunities for businesses in the state.

Explanation

Business Networking in Alabama is the correct answer because it specifically mentions providing information on getting the most business out of networking, networking organizations available, and networking opportunities in various cities in Alabama. This indicates that Business Networking in Alabama is the entity that focuses on networking and provides resources and opportunities for businesses in the state.

7. The Mobile Chamber of Commerce Small Business office gives support for which services?

Business operations

Small business forums

Business referrals

All of the above

The Mobile Chamber of Commerce Small Business office provides support for all of the mentioned services. They offer assistance and resources for business operations, including guidance on various aspects of running a business. They also organize small business forums where entrepreneurs can network, learn from experts, and exchange ideas. Additionally, they provide business referrals, connecting small businesses with potential clients or partners. Overall, the Mobile Chamber of Commerce Small Business office offers comprehensive support to small businesses in various areas.

Explanation

The Mobile Chamber of Commerce Small Business office provides support for all of the mentioned services. They offer assistance and resources for business operations, including guidance on various aspects of running a business. They also organize small business forums where entrepreneurs can network, learn from experts, and exchange ideas. Additionally, they provide business referrals, connecting small businesses with potential clients or partners. Overall, the Mobile Chamber of Commerce Small Business office offers comprehensive support to small businesses in various areas.

8. A Work Opportunity Tax credit that can be applied for businesses who hire employees with disability on the:

First $6,000 of wages paid

First $10,000 of wages paid

First $2,000 of wages paid

First $15,000 of wages paid

The correct answer is "first $6,000 of wages paid." This means that businesses can apply for a Work Opportunity Tax credit when they hire employees with disabilities and pay them up to $6,000 in wages. The credit is not available for higher amounts of wages paid. This incentive encourages businesses to hire individuals with disabilities and provides them with financial support.

Explanation

The correct answer is "first $6,000 of wages paid." This means that businesses can apply for a Work Opportunity Tax credit when they hire employees with disabilities and pay them up to $6,000 in wages. The credit is not available for higher amounts of wages paid. This incentive encourages businesses to hire individuals with disabilities and provides them with financial support.

9. How much maximum annual deduction can a business take for making it business accessible to the disabled?

$15,000

$30,000

$5,000

$50,000

A business can take a maximum annual deduction of $15,000 for making it accessible to the disabled. This deduction is available under the Americans with Disabilities Act (ADA) and is meant to incentivize businesses to make their premises accessible to individuals with disabilities. By offering this deduction, the government aims to promote equal access and inclusion for disabled individuals in businesses.

Explanation

A business can take a maximum annual deduction of $15,000 for making it accessible to the disabled. This deduction is available under the Americans with Disabilities Act (ADA) and is meant to incentivize businesses to make their premises accessible to individuals with disabilities. By offering this deduction, the government aims to promote equal access and inclusion for disabled individuals in businesses.

10. To qualify for the disabled tax credit, a business must have gross receipts of less than $1M or less than:

50 employees

100 employees

5 employees

30 employees

To qualify for the disabled tax credit, a business must have gross receipts of less than $1M or less than 30 employees. This means that if the business has gross receipts of $1M or more, it can still qualify for the tax credit as long as it has less than 30 employees. This criterion is set to provide incentives and support for small businesses that cater to disabled individuals.

Explanation

To qualify for the disabled tax credit, a business must have gross receipts of less than $1M or less than 30 employees. This means that if the business has gross receipts of $1M or more, it can still qualify for the tax credit as long as it has less than 30 employees. This criterion is set to provide incentives and support for small businesses that cater to disabled individuals.