According to the United States Small Business Administration (SBA), small business owners represent 99.9% of all U.S. firms and employ 48% of the private sector employees, which accounts for over 40% of the U.S. private sector payroll. Following global suit, the focus in the United States on entrepreneurship has been on the rise over the last decade and is a major source of employment and revenue, as well as spurring new innovation (Leutner et al.