Business exam 2 101222 Study guides, Class notes & Summaries

Business exam 2 10/12/22 Questions & Answers Small business - ANSWER-Independently owned and operated for profit and is not dominant in its field; Small business owners are entrepreneurs Why are small businesses important for the economy? - ANSWER-• Represent 99.9% of all employer firms • Employ about half of all private sector employees • Pay 42% of total U.S. private payroll • Have generated 63% of net new jobs over the past 25 years Characteristics of entrepreneurs - ANS...