As the wrenching changes in the economy continue to push corporations and large companies deep into their struggle to stay competitive, interest in small business and entrepreneurial studies has been rapidly increasing, not only by entrepreneurs and business owners, but also by the public. It is probably in response to the growing trend of downsizing and outsourcing that have been widely practiced by large corporations. The growing interest in the self-employed style of business has been publicly considered safer and more rewarding, especially since small businesses and entrepreneurial projects have proved their ability in initiating successful endeavors, elevating productivity, fueling innovation, and ultimately leading economic progress. Furthermore, embracing small business ventures has largely been looked at as a commitment to the American ideal of free enterprise that cherishes freedom, independence, individuality, hard work, and creativity. Academic response has been matching the public interest, for there has been a significant inclination by students and faculties to study entrepreneurship and explore how to finance, start up, manage, and maintain a small business, as well as examine the efficiency of venture capital investment. These exciting areas of business have grown rapidly in community colleges and public universities and even in increasing number of high schools around the country, as well as globally.

Entrepreneurial finance is the third major field ...

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