Provide well-developed answers to the following:
How does the Small Business Administration (SBA) define a small business?
Describe ways the SBA helps small businesses.
Explain key ways small businesses contribute to the economy.
Detail the three main causes of small-business failure.
According to our text, there are three basic forms of business ownership. Detail each form and provide three advantages and three disadvantages of each.
Describe the three key differences between sole proprietorships and partnerships.
Explain the main distinction of a not-for-profit corporation.
Friends approach you with an idea for a business and ask you what form of business ownership they should use. Detail the types of scenarios that would make you recommend a corporation vs. a partnership to your friends.
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