Benefits Of Helping Small Businesses Essay

Many people want to live the “American Dream”, and what better way to do that than to start a small business. Small businesses are incredibly important to the United States economy. Small businesses have been around from the beginning of the history of the U.S. and remain a large portion of the business community today. Small businesses are the driving force for job creation. Small businesses struggle to meet regulations set in place by the government and at the same time stay afloat in the U.S. economy. There are strict size standards set in place that make small business owners weary of expanding the amount of people they employ. Small business owners also struggle with offering healthcare to their employees. Small businesses try to stay ahead by introducing new and unique products. In an ever-changing economy, it is important to understand the impact of small businesses in the United States.

Being a small business owner can be very demanding, and most entrepreneurs know that running a small business can be a juggling act, often spreading themselves thin performing many different jobs during the course of a single day. With the primary responsibility for the success of their business resting on their shoulders, they know that better time management is key

There are many other forms of business entities available to entrepreneurs, the main type are sole proprietorship, general partnership, limited partnership, limited liability company (LLC), and corporations.

The Small Business Administration “aids, counsels, assists, and protects the interests of small business concerns.” They assist small businesses by providing them with whatever is necessary and will not stop until they get the business to be successful without their assistance. Although they are not able to give the business all of the necessities they need, they do their best and as much as they can do. Their motto is, “Aid, counsel, assist, and protect insofar as is possible, the interests of small business concerns.”

Starting a business is an adventure that can be a lot of work, yet the end result from hard labor can result in a rewarding experience. Yet simply following the American dream can be full of road block, if one does not research ahead of time can end up leaning the hard way. In the day and age that we live in, trying to find out what fits the best for your business can be as simply as login on to Google. The most basic of research can provide one with how to select a proper business structure, whether a company or corporation. This act in itself can determine your chances how the business will be successful in operational blessing and financial profits. The most common business types are sole

There are two obvious business models. These models are company-operated and franchise. A quick definition of a company operated business would be a startup, or business owned by an individual. A franchise is a business model that involves ones one business owner selling the licensing and trademarks and methods to an individual businessperson.

Small businesses are independently owned, for profit businesses which employees no more than 500 employees and are not dominant in its competitive area. Small Businesses are critical for the US economy because more than 99 percent of businesses in the US fall under the small business category (Farrell, Hirt & Farrell, 2009). This is clearly why small businesses are important for the US economy because of its percentage make up for the business industry. Small businesses also create opportunities for minorities and give women the opportunity to successful in the business world. Small business owners are not guaranteed

For my project, I ran Coffee-Roma, a coffee shop located in the business district of a large city. My simulation ran for 60 days. Over this timeframe, I hired 7 employees and earned gross revenues of $89,984.20. From those revenues, my net profit totaled $14,046.83. Below are the details of how I attempted to best run my business.

I could go on for hours about the plight of small businesses in our town but I am sure you have heard enough of it from me. You will hear the same kind of language over and over again ,a kind of fatalistic despair, but the math is

Small town business is always benefiting the community in many ways. It’s not hard to see that locally owned small businesses in small towns have a focus on their local community. My feeling is that small town people start out more focused on our local community than people who live in suburbs or big, loose metropolitan areas. They donate to local causes, volunteer at local events, and they participate in local issues. When small businesses need help they hire local people, they buy from local suppliers and they contract to local services. These all add up to a lot of community

Small businesses are generally started by an entrepreneur portraying their idea to the public and selling for a profit, beginning with a micro business, sole proprieter or a partnership. This will eventually evolve into a small business if they hire more employees. As more employees are hired, this adds to their quality of life through giving a sense of self worth to those employed. Innovation is important to small businesses, as it opens doors into oppertunities for future endeavours. Innovation will allow a business to predict possible future needs and to fulfull these before other competitve businesses do.

With more than half of the private sector in the United States, small business makes a crucial part of the economy of the country. Out of the 90 million people hired, 50% of them are working in small businesses or small establishments. (Wiatrowski, p 29) Regardless of how popular they are how much success they have had, finding out an exact definition of a small business is very difficult.

Create more good jobs: Small local businesses are the largest employers nationally and in the community. Providing the most jobs to residents within that community is important too.

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.

* Service: A business that tries to satisfy the needs and wants of consumers by providing a service such as cutting hair.