--- title: "Entrepreneurship and Small Business Certification: What Is It & How Do You Prepare Students?" description: Teaching business education? 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Categories ** - Follow Us ** - ** [Subscribe](https://info.aeseducation.com/subscribe) - [Recent](https://www.aeseducation.com/blog) - [Health Science](https://www.aeseducation.com/blog/topic/health-science) - [Business Education](https://www.aeseducation.com/blog/topic/business-education) - [Computer Applications](https://www.aeseducation.com/blog/topic/computer-applications) - [Career Readiness](https://www.aeseducation.com/blog/topic/career-readiness) - [Teaching Strategies](https://www.aeseducation.com/blog/topic/teaching-strategies) - [**](https://www.facebook.com/icevonline) - [**](https://twitter.com/icevonline) - [**](https://twitter.com/icevonline) - [**](https://www.youtube.com/cevmultimedia) - [**](https://www.pinterest.com/icev_online) [«  View All Posts](https://www.icevonline.com/blog) [Business Education](https://www.icevonline.com/blog/topic/business-education) | [High School](https://www.icevonline.com/blog/topic/high-school) # Entrepreneurship and Small Business Certification: What Is It & How Do You Prepare Students? - Share This Article - [**](https://www.facebook.com/sharer/sharer.php?u=https://www.icevonline.com/blog/entrepreneurship-small-business-certification) - [**](https://twitter.com/intent/tweet?text=Entrepreneurship+and+Small+Business+Certification%3A+What+Is+It+%26+How+Do+You+Prepare+Students%3F&url=https://www.icevonline.com/blog/entrepreneurship-small-business-certification&via=) - [**](https://www.linkedin.com/shareArticle?url=https://www.icevonline.com/blog/entrepreneurship-small-business-certification&title=Entrepreneurship+and+Small+Business+Certification%3A+What+Is+It+%26+How+Do+You+Prepare+Students%3F&summary=Teaching+business+education%3F+Learn+whether+the+ESB+certification+could+be+a+good+addition+to+help+your+students+prepare+for+their+future+careers.) - [**](mailto:?body=https://www.icevonline.com/blog/entrepreneurship-small-business-certification) April 22nd, 2021 | 5 min. read ![Entrepreneurship and Small Business Certification: What Is It & How Do You Prepare Students?](https://www.icevonline.com/hubfs/entrepreneurship-small-business-certification.jpg) [Subscribe](https://info.aeseducation.com/subscribe) ![Team iCEV](https://app.hubspot.com/settings/avatar/d41d8cd98f00b204e9800998ecf8427e "Team iCEV") [Team iCEV](https://www.icevonline.com/blog/author/mike-cescon) ** Print/Save as PDF Many business education teachers are looking for new certification options to set their students up for success post-graduation.  As a [business education curriculum](https://www.aeseducation.com/digital-curriculum) provider, teachers often ask us for recommendations on certifications that other teachers incorporate in their programs. One certification we hear about from high school business teachers is the [Entrepreneurship and Small Business (ESB) certification](https://www.icevonline.com/blog/what-is-digital-badging) from Certiport. **In this article, we’ll answer the two most common questions teachers ask about the Entrepreneurship and Small Business certification:** 1. What do students need to know for the Entrepreneurship and Small Business certification? 2. How do I prepare students for the Entrepreneurship and Small Business certification? Understanding these aspects of the [ESB certification](https://www.icevonline.com/blog/esb-certification-version-2) will help you decide whether it’s a good fit for your business education program. ## 1. What Do Students Need to Know for the Entrepreneurship and Small Business Certification? ![esb certification exam domains](https://www.icevonline.com/hubfs/entrepreneurship-small-business-certification-exam-jpg.jpeg) [The Entrepreneurship and Small Business certification](https://certiport.pearsonvue.com/Certifications/ESB/Certification/Overview) was developed to ensure tomorrow’s business leaders have the tools they need for success in a challenging and competitive business world.  The exam tests candidates on their understanding of the foundational principles surrounding entrepreneurship and small business.  **The ESB certification exam includes 45 questions across six domains:** 1. The Entrepreneur 2. Opportunity Recognition 3. Starting a Business 4. Business Operations 5. Marketing & Sales 6. Financial Management Each domain includes [key objectives](https://certiport.pearsonvue.com/Certifications/ESB/Certification/Certify#objective-domains) that indicate what knowledge and skills students need for exam success.  Let’s dive into the details of each of these domains and key objectives: ### Domain 1. The Entrepreneur **The Entrepreneur **domain tests students on four key objectives:  - Identify the [characteristics of entrepreneurs](https://www.aeseducation.com/blog/entrepreneurship-lesson-plans-for-high-school) - 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 - Given a scenario, recognize a business opportunity - Identify the risks, benefits, opportunities, and drawbacks of [being an entrepreneur](https://www.aeseducation.com/curriculum/business-education/entrepreneurship) ### Domain 2. Opportunity Recognition **The Opportunity Recognition **domain includes four key objectives:  - Identify the benefits and drawbacks of different types of opportunities (e.g., start a new business, buy an existing business, and buy a franchise) - Given a scenario, analyze the demand for the goods or service and opportunities in an environment - Given a scenario, identify the customers or potential customers for a business - Given a scenario, recognize a value proposition ### Domain 3. Starting a Business **The Starting a Business **domain tests candidates on five key objectives:  - Identify the purposes and value of a business plan - Identify the appropriate legal structure, benefits and drawbacks for different legal structures for a business - Given a scenario, identify different types of licenses and regulations that are required - 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) - Given a scenario, identify support that is available for the business on a local, state, and federal level - Identify the ethical practices and social responsibilities of a business - Identify potential exit strategies for a business ### Domain 4. Business Operations **The Business Operations **domain includes seven key objectives for students:  - Given a scenario, identify key positions and human capital needs (including compensation and benefits) - Given a scenario, determine whether work can be completed by the owner or whether employees or service providers are needed - Given a scenario, identify the taxes that are required - Given a scenario, identify intellectual property issues of trademarks, copyrights, and patents - Given a scenario, identify standard operating procedures (e.g., setup, conduct, internal controls, separation of duties) - Given a scenario, identify the factors that lead to sustainability - Given a scenario, identify milestones as part of a growth strategy ### Domain 5. Marketing and Sales **The Marketing and Sales **domain will tests candidates on four key objectives:  - Given a scenario, develop a sales strategy and identify characteristics of a successful sale - Given a scenario, identify and analyze the costs/benefits of finding customers - Given a scenario, identify how to [retain customers](https://www.aeseducation.com/curriculum/business-education/marketing) and develop a relationship with repeat customers - Given a scenario, determine value and [methods of communication](https://www.aeseducation.com/curriculum/business-education/business-communication) including: web sites, brochures, social media, and advertising ### Domain 6. Financial Management **The Financial Management **domain includes seven key objectives:  - Given a scenario, interpret [basic financial statements](https://www.icevonline.com/curriculum/business-education/banking-and-finance) such as income statements and balance sheets - Given a scenario, identify the factors that influence credit ratings and the importance of a positive credit rating - Given a list of expenses, identify which are fixed versus variable - Given a scenario, identify the factors that impact the price to the customer - Given a scenario, identify and analyze cash flow including: accounts receivable, accounts payable, inventory, and debt - Given a scenario, create a cash flow budget - Given a scenario, identify the break-even point for the business ## 2. How to Prepare Students for the Entrepreneurship and Small Business Certification ![prepare students for the entrepreneurship and small business exam](https://www.icevonline.com/hubfs/entrepreneurship-small-business-certification-prep-jpg.jpeg) Now that you know what’s on the Entrepreneurship and Small Business certification exam, your next question is likely:  ***How can I ensure my students have the knowledge and skills needed to earn the ESB certification?*** GMetrix offers performance-based assessment and test preparation materials to help your students prepare for the ESB certification.  **These ****test prep materials**** make a great addition to an existing business education curriculum.** **However, test prep materials won’t help you build a comprehensive curriculum or actually teach the information.** That’s why teachers use a combination of test prep materials along with a more robust curriculum like our [Business&ITCenter21 curriculum system](https://www.aeseducation.com/businesscenter21). Business&ITCenter21 is used by thousands of teachers like you to save time with planning and grading while preparing students for their future careers. It contains more than [600 hours of curriculum content](https://www.aeseducation.com/curriculum/business-education) to help you teach a wide variety of skills and concepts such as communication, professionalism, digital citizenship, public speaking, job seeking skills, and more. 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