File Name: enterprise and small business .zip
- Enterprise, Entrepreneurship and Small Business (PDF)
- Enterprise, Entrepreneurship and Small Business (PDF)
- Entrepreneurship and Small Business.pdf
- Small business
Enterprise, Entrepreneurship and Small Business (PDF)
Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy varies depending on the country and industry. Small businesses range from fifteen employees under the Australian Fair Work Act , fifty employees according to the definition used by the European Union , and fewer than five hundred employees to qualify for many U. Small Business Administration programs. While small businesses can also be classified according to other methods, such as annual revenues, shipments, sales, assets, or by annual gross or net revenue or net profits, the number of employees is one of the most widely used measures.
Small businesses in many countries include service or retail operations such as convenience stores , small grocery stores , bakeries or delicatessens , hairdressers or tradespeople e.
Some professionals operate as small businesses, such as lawyers , accountants , dentists , and medical doctors although these professionals can also work for large organizations or companies. Small businesses vary a great deal in terms of size, revenues, and regulatory authorization, both within a country and from country to country.
Some small businesses, such as a home accounting business, may only require a business license. On the other hand, other small businesses, such as day cares , retirement homes , and restaurants serving liquor are more heavily regulated and may require inspection and certification from various government authorities.
Researchers and analysts of small or owner-managed businesses generally behave as if nominal organizational forms e. However, owner-managers often do not delineate their behavior to accord with the implied separation between their personal and business interests. Lenders also often contract around organizational corporate boundaries by seeking personal guarantees or accepting privately held assets as collateral.
These include analyses that use traditional accounting disclosures and studies that view the firm as defined by some formal organizational structure.
The concepts of small business, self-employment , entrepreneurship , and startup overlap to certain degree but also carry important distinctions. These four concepts are often conflated with each other. Many small businesses are sole proprietor operations consisting solely of the owner, but small businesses can also have a small number of additional employees. Some small businesses that offer an existing product, process or service, do not have growth as their primary objective.
However, in contrast, a business that is created to become a big firm is known as a startup. Startups aim for growth and often offer an innovative product, process, or service.
The entrepreneurs of startups typically aim to scale up the company by adding employees, seeking international sales, and so on, a process which is often but not always financed by venture capital and angel investments. Successful entrepreneurs have the ability to lead a business in a positive direction by proper planning, adapting to changing environments, and understand their own strengths and weakness. Spectacular success stories stem from startups that expanded in growth.
Examples would be Microsoft, Genentech, and Federal Express which all embody the sense of new venture creation on small businesses. Self-employment provides works primarily for the founders. Entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to grow big or become registered, but startups refer to new businesses that intend to grow beyond the founders, to have employees, and grow large.
The legal definition of "small business" varies by country and by industry. In addition to several employees, methods used to classify small companies include annual sales turnover , the value of assets and net profit balance sheet , alone or as a combination of factors. Small businesses are usually not dominant in their field of operation. In a study that examined the demographic of small business owners was published. The study showed that the median American small business owners were above the age of The United States census data for the years and shows the women's ownership share of small businesses by firm size.
The data explains percentages owned by women along with the number of employees including the owner.
Generally, the smaller the business, the more likely it to be owned by a woman. Franchising is a way for small business owners to benefit from the economies of scale of the big corporation franchiser. McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable.
However, some franchisees conclude that they suffer the "worst of both worlds" feeling they are too restricted by corporate mandates and lack true independence. A retailers' cooperative is a type of cooperative that employs economies of scale on behalf of its retailer members. Retailers' cooperatives use their purchasing power to acquire discounts from manufacturers and often share marketing expenses.
They are often recognized as "local groups" because they own their own stores within the community. Retail cooperatives also allow consumers to supply their own earnings and gain bargaining power outside of the business sector.
Many small businesses can be started at a low cost and on a part-time basis, while a person continues a regular job with an employer or provides care for family members in the home.
In developing countries, many small businesses are sole-proprietor operations such as selling products at a market stall or preparing hot food to sell on the street, which provide a small income. In the s, a small business is also well suited to Internet marketing ; because, it can easily serve specialized niches, something that would have been more difficult before the Internet revolution which began in the late s.
Internet marketing gives small businesses the ability to market with smaller budgets. Adapting to change is crucial in business and particularly small business; not being tied to the bureaucratic inertia associated with large corporations, small businesses can respond to changing marketplace demand more quickly.
Small business proprietors tend to be in closer personal contact with their customers and clients than large corporations, as small business owners see their customers in person each week. One study showed that small, local businesses are better for a local economy than the introduction of new chain stores. By opening up new national level chain stores, the profits of locally owned businesses greatly decrease and many businesses end up failing and having to close.
This creates an exponential effect. When one store closes, people lose their jobs, other businesses lose business from the failed business, and so on. In many cases, large firms displace just as many jobs as they create. Independence is another advantage of owning a small business. A small business owner does not have to report to a supervisor or manager. Also, many people desire to make their own decisions, take their own risks, and reap the rewards of their efforts.
Small business owners possess the flexibility and freedom to make their own decisions within the constraints imposed by economic and other environmental factors. Small businesses often face a variety of problems, some of which are related to their size. A frequent cause of bankruptcy is under capitalization. This is often a result of poor planning rather than economic conditions. It is a common rule of thumb that the entrepreneur should have access to a sum of money at least equal to the projected revenue for the first year of business in addition to his or her anticipated expenses.
For example, if the prospective owner thinks that he or she will generate , in revenues in the first year with , in start-up expenses, then he or she should have not less than , available. Start-up expenses are often grossly underestimated adding to the burden of the business. Failure to provide this level of funding for the company could leave the owner liable for all of the company's debt should he or she end up in bankruptcy court , under the theory of undercapitalization.
In addition to ensuring that the business has enough capital, the small business owner must also be mindful of contribution margin sales minus variable costs. To break even, the business must be able to reach a level of sales where the contribution margin equals fixed costs. When they first start, many small business owners underprice their products to a point where even at their maximum capacity, it would be impossible to break even.
Cost controls or price increases often resolve this problem. In the United States , some of the largest concerns of small business owners are insurance costs such as liability and health , rising energy costs, taxes , and tax compliance. Contracting fraud has been an ongoing problem for small businesses in the United States. Small businesses are legally obligated to receive a fair portion 23 percent of the total value of all the government's prime contracts as mandated by the Small Business Act of Since , a series of federal investigations have found fraud, abuse, loopholes, and a lack of oversight in federal small business contracting, which has led to the diversion of billions of dollars in small business contracts to large corporations.
Another problem for many small businesses is termed the 'Entrepreneurial Myth' or E-Myth. The mythic assumption is that an expert in a given technical field will also be an expert at running that kind of business. Additional business management skills are needed to keep a business running smoothly. Some of this misunderstanding arises from the failure to distinguish between small business managers as entrepreneurs or capitalists.
While nearly all owner-managers of small firms are obliged to assume the role of capitalist, only a minority will act as entrepreneurs. In general, small business owners are primarily focused on surviving rather than growing; therefore, not experiencing the five stages of the corporate life cycle birth, growth, maturity, revival, and decline as an entrepreneur would. Another problem for many small businesses is the capacity of much larger businesses to influence or sometimes determine their chances for success.
Business networking and social media has been used as a major tool by small businesses in the UK, but most of them just use a " scattergun " approach in a desperate attempt to exploit the market which is not that successful.
Business planning is associated with improved growth prospects. Funders and investors usually require a business plan. A plan also serves as a strategic planning document for owners and CEOs, which can be used as a "bible" for decision-making . Although this may seem positive, in reality, the growth is slow, as small business owners shy away from exporting due to actual and perceived barriers. Learning the basics of a foreign language could be the solution to open doors to new trade markets, it is a reality that not all foreign business partners speak English.
China is stated to grow by 7. When small business fails, the owner may file for bankruptcy. In most cases, this can be handled through a personal bankruptcy filing.
Small businesses can encounter several problems related to engaging in corporate social responsibility , due to characteristics inherent in their size. Owners of small businesses often participate heavily in the day-to-day operations of their companies. This results in a lack of time for the owner to coordinate socially responsible efforts, such as supporting local charities or not-for-profit activities. Small businesses also face a form of peer pressure from larger forces in their respective industries, making it difficult to oppose and work against industry expectations.
Because small businesses have more personal relationships with their patrons and local shareholders, they must also be prepared to withstand closer scrutiny if they want to share in the benefits of committing to socially responsible practices or not.
While small businesses employ over half the workforce in the US  and have been established as a main driving force behind job creation,  the quality of the jobs these businesses create has been called into question. Small businesses generally employ individuals from the Secondary labor market. As a result, in the U. Research from the U. In the U.
Cybercrime in the business world can be broken down into 4 main categories. They include loss of reputation and consumer confidence, cost of fixing the issue, loss of capital and assets, and legal difficulties that can come from these problems.
Enterprise, Entrepreneurship and Small Business (PDF)
Subscription price CiteScore 1. In addition, it highlights entrepreneurs from minority communities, and also self-employment in peripheral economies including the Arctic and the bazaar. The objectives of IJESB are to establish an effective channel of communication between policy makers, government agencies, academic and research institutions and persons concerned with entrepreneurship in society. It also aims to promote and coordinate international research efforts. The international dimension is emphasised in order to understand cultural and national barriers and to meet the needs of entrepreneurs in the global economy. IJESB provides a vehicle to help academics, researchers, policy makers, and entrepreneurs, working in the field, to disseminate information and to learn from each other s work.
Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. DOI: The terms enterprise, entrepreneurship and small business are frequently used in the context of education and small business formation. Particular countries have preference for the use of the terms in specific circumstances, for example, entrepreneurship is more common in the USA and Canada, while enterprise is more often used in the UK and Australia. Because the terms are often used interchangeably, there is confusion about their exact meaning. View PDF.
People tend to use entrepreneurship and small business interchangeably to describe a business with limited resources seeking to achieve a certain objective. While this may be true, the similarities end there. In reality, entrepreneurs and small business owners tend to have opposite views on their objectives and approach. So what are the differences between entrepreneurship and small business? A small business is an organization, partnership or sole proprietorship that has fewer resources and annual revenue than a medium or large company. An entrepreneurial venture is the concept of starting a small business to offer a product or service with the intention of disrupting an industry or maximizing profit.
PDF | In this extended and novel entrepreneurial analysis of small firm inception and growth, a leading authority in the field develops a new.
Entrepreneurship and Small Business.pdf
Contra Costa County values the contributions of small business in the County and has developed programs to assist in the solicitation and awarding of contracts. The Board of Supervisors has adopted these programs to enable small and local businesses to compete for a share of the County's purchasing transactions. Businesses included under these programs include:. Skip to Main Content.
Нам нужно поговорить. Если Грег Хейл ворвется… - Он не закончил фразу. Сьюзан потеряла дар речи.
- Хотела бы, но шифровалка недоступна взору Большого Брата. Ни звука, ни картинки. Приказ Стратмора. Все, что я могу, - это проверить статистику, посмотреть, чем загружен ТРАНСТЕКСТ. Слава Богу, разрешено хоть. Стратмор требовал запретить всяческий доступ, но Фонтейн настоял на. - В шифровалке нет камер слежения? - удивился Бринкерхофф.
Сьюзан покачала головой. Стратмор наморщил лоб и прикусил губу. Мысли его метались. Он, конечно, с легкостью мог набрать код лифта и отправить Сьюзан домой, но она нужна ему. Она должна помочь ему найти ключ в компьютере Хейла.
PDF | Entrepreneurship and small businesses are the basis for economic development all over the world. They play an important role in employment, income.
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Покраснев, Сьюзан сказала, что созрела довольно поздно. Чуть ли не до двадцати лет она была худой и нескладной и носила скобки на зубах, так что тетя Клара однажды сказала, что Господь Бог наградил ее умом в утешение за невзрачные внешние данные. Господь явно поторопился с утешением, подумал Беккер. Сьюзан также сообщила, что интерес к криптографии появился у нее еще в школе, в старших классах. Президент компьютерного клуба, верзила из восьмого класса Фрэнк Гут-манн, написал ей любовные стихи и зашифровал их, подставив вместо букв цифры.
- Давайте мне его номер.
Давай ключ. - Мидж… Она прекратила печатать и повернулась к. - Чед, список будет распечатан в течение тридцати секунд. Вот мои условия. Ты даешь мне ключ.
Так что же вы предлагаете? - спросила Сьюзан. Она хотела только одного - поскорее уйти. Стратмор на минуту задумался.