LO 5-1

Define entrepreneurship and small business.

LO 5-2

Investigate the importance of small business in the U.S. economy and why certain fields attract small business.

LO 5-3

Specify the advantages of small business ownership.

LO 5-4

Summarize the disadvantages of small-business ownership and analyze why many small businesses fail.

LO 5-5

Describe how you go about starting a small business and what resources are needed.

LO 5-6

Evaluate the demographic, technological, and economic trends that are affecting the future of small business.

LO 5-7

Explain why many large businesses are trying to "think small."