continues to argue that only a few businesses would have the potential to fit Schumpeterian definition on entrepreneurship …To most people entrepreneurship is solely about innovation and entering a new venture. For example, Hisrich and Peters … (2002) define entrepreneurship as “the process of creating something new with value by devoting the necessary time and …

This paper argues that a definition of small business is important for both research and governmental policy. A … chronological history of definitions is discussed along with their limitations. A new definition of small business is advocated when … a business has personal guarantees and has no public stock. This definition is measurable, meaningful, and congruent …