Which of the following is considered the major obstacle for Americans to own their own businesses?

• A. Low interest rates
• B. Abundance of skilled labor
• C. High consumer demand
• D. Lack of access to capital

Answer: (D)

Verified step by step guidance

1. Understand the question is asking about the major obstacle for Americans to own their own businesses, which relates to barriers in starting or running a business.
2. Recall that low interest rates generally make borrowing cheaper, so they are not typically an obstacle but rather a facilitator for business ownership.
3. Recognize that an abundance of skilled labor and high consumer demand are positive factors that support business growth, not obstacles.
4. Identify that lack of access to capital means difficulty in obtaining the necessary funds to start or expand a business, which is a common and significant barrier.
5. Conclude that among the options, 'Lack of access to capital' is the major obstacle because without sufficient funding, potential entrepreneurs cannot invest in resources, equipment, or operations needed to own and run a business.