Sunday, May 5, 2019

Small Businesses Essay Example | Topics and Well Written Essays - 3250 words

Small Businesses - Essay ExampleFrom this research it is clear that seam success or infracture is not ultimately the result of fate or random chance, unless on that point are good reasons why a duty did well or the other whizz didnt. When a business man plans to set up a business, he may have any(prenominal) initial concerns such as which particular business to be started, who are the main customers to be targeted, how overmuch capital to be invested and what market to be concentrated etc. In todays rigorously competitive market landscape, the main indicator for the success or failure of a business is the magnate of the business to meet customers specific as well as general requirements and thus to ensure customers satisfaction. As Freeman emphasized, no oneness who starts their own small business plan to fail, but sadly they fail to plan and therefore they fail. No matter whether the business is small or big, developing a well thought about plan and comprehensive strategi c planning is critical to setting a business successfully. In the modern business contexts, small businesses represent a good portion of the economy since it 1) provides increase employment opportunities, 2) Requires less gestation period, 3) encourages growth of local entrepreneurship and 4) improves the standard of living of the local people. In the UK alone, it is estimated that there are 3.7 million small businesses and this plays greater roles in its economy. A small scale business is one in which management is mostly independent and usually the manager is the owner, area of the operation is mainly local and ownership is held by an individual or small group of people. (Analoui and Karami

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