SBA Technology & Innovation for Small Business Flashcards
6 cards from real SBA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 SBA Technology & Innovation for Small Business flashcards as text
What is a point-of-sale (POS) system and why is it critical for small retail businesses?
Answer: A system that processes sales transactions, manages inventory, and tracks customer data in real time
A POS system processes customer transactions and integrates inventory management, sales reporting, and often CRM functions, giving small retailers real-time business insight.
What is 'digital marketing' for a small business?
Answer: Promoting products and services through digital channels such as social media, email, and search engines
Digital marketing uses online channels including social media, search engine optimization, email, and paid ads to reach and engage customers at lower cost than traditional media.
What is search engine optimization (SEO) and how does it help small businesses?
Answer: Improving a website's visibility in organic search engine results to attract more customers
SEO involves optimizing website content, structure, and links to rank higher in search results, driving free organic traffic from potential customers.
What role does a Customer Relationship Management (CRM) system play in small business operations?
Answer: Organize and manage customer interactions, sales pipelines, and communication history
A CRM system centralizes customer contact information, interaction history, and sales opportunities, helping businesses build stronger customer relationships and increase sales.
What is the benefit of using accounting software for a small business versus manual bookkeeping?
Answer: It automates transaction recording, generates financial reports, and reduces human error
Accounting software automates bookkeeping, reduces errors, and generates real-time financial reports that would take hours to produce manually.
What does 'mobile commerce' (m-commerce) refer to for small businesses?
Answer: Conducting business transactions through mobile devices such as smartphones and tablets
M-commerce refers to commercial transactions conducted via mobile devices, including mobile payments, shopping apps, and mobile-optimized websites.
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