Russell S. Sobel is a professor of economics and James Clark Coffman Distinguished Chair in Entrepreneurial Studies at West Virginia University, and he was founding director of the entrepreneurship Center there. The presents that appear on this table are from partnerships from which Investopedia receives compensation. Investopedia doesn’t embody all provides out there in the marketplace. As of 2021, there are 32.5 million small businesses within the United States. It is important to combine steps three and four so it’s possible to establish an issue to unravel by looking at varied industries as an outsider. This usually offers an aspiring entrepreneur with the power to see a problem others might not.
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