Entrepreneurship Vocabulary Quiz
12 multiple-choice questions on startups, venture capital, business models, pitching and key entrepreneurship concepts. B2 level. Great for business English learners and IELTS/TOEIC preparation.
This quiz focuses on how the target vocabulary for Entrepreneurship Vocabulary Quiz is actually used in context at B2 level, rather than testing bare definitions, with each question embedding a target word in a full example sentence.
Working through all 12 questions and checking the explanations in the FAQ below is a quick way to spot any terms you are still unsure of. Revisiting the quiz again after a day or two, rather than only once, is one of the most reliable ways to move new vocabulary from passive recognition into words you can use confidently yourself in speaking and writing.
Keep building your entrepreneurship vocabulary.
Entrepreneurship Vocabulary — FAQ
What is a 'startup' in business English?
A startup is a newly established business, typically one that aims to scale rapidly using an innovative product or service. Unlike traditional small businesses, startups usually seek external investment and aim for fast growth. The term is especially common in the technology sector but applies to any early-stage company with high growth potential.
What does 'venture capital' mean?
Venture capital (VC) is a form of private equity financing provided by investors (venture capitalists) to early-stage, high-potential startups in exchange for equity — an ownership stake in the company. Venture capitalists take on higher risk than traditional lenders because startups may fail, but they expect very high returns if the company succeeds.
What is a 'business model'?
A business model is the plan a company uses to generate revenue and make a profit. It describes how the business creates, delivers and captures value — essentially answering: what does the company offer, who are its customers, and how does it make money? Examples include subscription models (Netflix), freemium models (Spotify), and marketplace models (Airbnb).
What is the difference between a 'founder' and a 'co-founder'?
A founder is a person who starts and establishes a business. A co-founder is one of two or more people who start a business together. The prefix 'co-' means 'together', so co-founders are joint founders who share the responsibility of building the company from its inception.
What does 'bootstrapping' mean in entrepreneurship?
Bootstrapping refers to starting and growing a business using only personal savings and revenue generated by the business itself, without seeking external investment or loans. A bootstrapped company grows organically and remains self-funded. While it means slower growth, it allows founders to retain full ownership and control.
What is an 'MVP' in the context of startups?
MVP stands for Minimum Viable Product. It is the simplest, most basic version of a product that can be released to early customers to test a business idea, gather feedback and validate assumptions — with the least amount of time and money invested. The MVP approach is central to the Lean Startup methodology, popularised by Eric Ries.
What does 'pivot' mean in a startup context?
In entrepreneurship, to 'pivot' means to make a fundamental change to the business strategy — such as changing the target market, the product, the revenue model or the technology — while keeping what has been learned. Famous pivots include Instagram (originally a location check-in app) and YouTube (originally a video dating site). A pivot is different from simply improving an existing approach.
What is 'equity' and why is it important for startups?
Equity refers to ownership in a company, usually expressed as a percentage of shares. Founders hold equity in their own company. When they take on investors, they give away a portion of that equity in exchange for funding. Employees may also receive equity through stock options. Equity is important because it determines who owns what share of the company's value.
What is the difference between a 'sole trader' and a 'limited company'?
A sole trader (or sole proprietor) is a self-employed individual who runs their own business and is personally responsible for all debts and liabilities. A limited company is a separate legal entity from its owners. Shareholders' personal liability is limited to the amount they invested, meaning personal assets are protected if the business fails.
What are common entrepreneurship collocations in English?
Common entrepreneurship collocations: 'launch a startup', 'raise capital', 'pitch an idea', 'scale a business', 'generate revenue', 'secure funding', 'disrupt an industry', 'validate a concept', 'build a prototype', 'gain market share', 'exit a business' (sell it), and 'burn through cash' (spend money quickly). Learning these will help you read business news and join professional conversations in English.