Entrepreneurship and Small Business: Exam Voucher

Exam Objectives

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What is the Entrepreneurship and Small Business Certification (ESB)?

Entrepreneurship and Small Business is an original certification from Certiport, that ensures tomorrow’s leaders are prepared with the toolkit they need to get ahead in today’s competitive landscape. Whether you are starting a bakery or launching the next billion dollar startup, ESB validates your understanding of core business principles, including the essentials of launching and maintaining a successful company. Successful completion of this certification will validate skills and knowledge for those interested in working as their own boss and
those with entrepreneurial and business career aspirations.

Objective Domains

1. The Entrepreneur:

1.1 Identify the characteristics of entrepreneurs
1.2 Given a scenario including a self assessment outcome, identify
the strengths, weaknesses, and risk tolerance the self-assessment
identifies and how to compensate with services
1.3 Given a scenario, recognize a business opportunity
1.4 Identify the risks, benefits, opportunities, and drawbacks of being
an entrepreneur

2. Opportunity Recognition:

2.1 Identify the benefits and drawbacks of different types of
opportunities (e.g., start a new business, buy an existing business,
and buy a franchise)
2.2 Given a scenario, analyze the demand for the goods or service and
opportunities in an environment
2.3 Given a scenario, identify the customers or potential customers
for a business
2.4 Given a scenario, recognize a value proposition

3. Starting a Business:

3.1 Identify the purposes and value of a business plan
3.2 Identify the appropriate legal structure, benefits and drawbacks
for different legal structures for a business
3.3 Given a scenario, identify different types of licenses and
regulations that are required
3.4 Identify the benefits and drawbacks of various sources of start-
up funding: Equity (friends/family, angels, venture), Debt (bank,
credit cards, personal loans), and Grants (government, foundation,
corporate)
3.5 Given a scenario, identify support that is available for the business
on a local, state, and federal level
3.6 Identify the ethical practices and social responsibilities of a
business
3.7 Identify potential exit strategies for a business

4. Business Operations:

4.1 Given a scenario, identify key positions and human capital needs
(including compensation and benefits)
4.2 Given a scenario, determine whether work can be completed by
the owner or whether employees or service providers are needed
4.3 Given a scenario, identify the taxes that are required
4.4 Given a scenario, identify intellectual property issues of
trademarks, copyrights, and patents
4.5 Given a scenario, identify standard operating procedures (e.g.,
setup, conduct, internal controls, separation of duties)
4.6 Given a scenario, identify the factors that led to sustainability
4.7 Given a scenario, identify milestone as part of a growth strategy

5. Marketing and Sales:

5.1 Given a scenario, develop a sales strategy and identify
characteristics of a successful sale
5.2 Given a scenario, identify and analyze the costs/benefits of finding
customers
5.3 Given a scenario, identify how to retain customers and develop a
relationship with repeat customers
5.4 Given a scenario, determine value and methods of communication
including: web sites, brochures, social media, and advertising

6. Financial Management:

6.1 Given a scenario, interpret basic financial statements such as
income statements and balance sheets
6.2 Given a scenario, identify the factors that influence credit ratings
and the importance of a positive credit rating
6.3 Given a list of expenses, identify which are fixed versus variable
6.4 Given a scenario, identify the factors that impact the price to the
customer
6.5 Given a scenario, identify and analyze cash flow including
accounts receivable, accounts payable, inventory, and debt
6.6 Given a scenario, create a cash flow budget
6.7 Given a scenario, identify the breakeven point for the business