<p>Don't worry:
1. I never started a company. I'm going to Wharton this fall.
2. Keep in mind that not all business is about entreprenuership (spelling?)
3. Just starting a business doesn't give you a boost, as many others in the applicant pool have them, you really need to make a substantial profit for it to give you a boost (and it seems, in your case, that may be the only point of you starting one)
(I can't find a thread right now, but there's definitely one out there that discusses how large/profitable your business should probably be to stand out at all... and it's scary.)
4. A lot of CC posters have recommended me in the past not to bother worrying about lack of formal business experience.</p>