Suppose you were to walk down the main street or through a shopping district in your community. What types of businesses might you see? Any of the businesses that are owned by only one person are called sole proprietorships. Sole proprietorships are a vital part of communities around the country. Think about the main street or a major shopping district in your community, and answer these questions:

• Which businesses do you think are sole proprietorships?
• Think back to a few years ago. How many new sole proprietorships have opened in the last few years? How many have disappeared?
• How are these businesses important to your community? Which ones do you use?

Answer all the bullet points in one to two paragraphs.