The concepts of small business and entrepreneurship go hand in hand. In fact, small businesses, as well as, large businesses, would not be in existence if it were not for the innovative ideas and thoughts of entrepreneurs. As you complete your final reading of the course, pay specific attention to the concepts of small business and entrepreneurship. Specifically, respond to the following:
· Define entrepreneurship and small business.
· Explain the importance of small business in the United States economy and why certain fields attract small businesses.
· Analyze the disadvantages of small business ownership and the reasons why many small businesses fail.
· Assess two entrepreneurs’ plans for starting a small business.