Define what a small business is and recognize the fields in which small businesses are concentrated.
A small business is one that is independently owned and operated for profit and is not dominant in its field.
There are about 27.9 million businesses in this country, and 99.7% of them are small businesses.
Small businesses employ more than half the nation's workforce.
About 69% of small businesses survive at least two years and about 50% survive at least five years.
More than half of all small businesses are in retailing and services.
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