Benefits Of Small Businesses And Developing A Successful And Self Sustaining Community Essay

With a growing real estate market, investors can expect a good return on their investment. In addition, the industries within the town bring in new residents and potential business income.

We need to try to find somebody to open some businesses. Nobody is really coming in until we get our infrastructure improved…. [about new construction] We’re trying to make things better. We’re doing what we can” (Huffman).

This strategy has focused on infrastructure investments (everything from sewers to arenas) and tax cuts to attract investment and the development of new industries. The result is that Newark is showing signs of economic renewal, in particular in its ability to attract middle class professionals back to the city. Over time, this trend will create a more dynamic Newark with a diverse economic base and a vibrant demographic. However, the impacts of these changes on the existing residents, most of whom are poor minorities, are largely going to be negative. They have neither the education nor training to take advantage of the new jobs and industries, and may find themselves priced out of their own neighborhoods. Newark appears headed for economic renewal, but social renewal may be stifled by rising tensions between the existing citizens and the new citizens that Newark intends to attract. These citizens, already facing lower social spending as the city shifts its funding priorities to infrastructure projects, may be compartmentalized into smaller pockets of the city or forced outside of Newark altogether, resulting in civic disharmony that the city will need to manage in order to continue to experience economic

Today, light manufacturing remains the city’s economic base. These companies manufacture everything from home furnishings and household appliances to building materials and farm implements. The city’s mission is to protect and improve the quality of life for the community by addressing concerns, opportunities, service, safety, and providing a strong infrastructure while maintaining a viable economic base. South El Monte offers all business development services including an economic development team, redevelopment projects and a one-stop service bringing in state and federal agencies to make it easy for businesses to locate in the city. These are all under South El Monte’s “public and private partnerships” vision. The city also has provides support to business in the area of workforce development. In just five decades, the city of South El Monte has matured into a viable commercial and industrial base, with over 2,400 businesses within 3.25 square miles. To meet its current needs and in search of other improvement opportunities, the city is now focusing on its growth potential in retail, commercial and residential development, making the community a better place to live and

In developing this Plan, the City undertook an extensive community engagement process to understand the community’s aspirations and to establish a foundation based on the vision for the future.” Yes, there are developments aside for continuing to provide the best quality of education, transportations, housing and job

There are a few active signs of the building of new business. The 31.3% poverty of the population shows evidences that there is still a need for services, employment, and resources for this community. Research shows that since Mitch Landrieu took office in 2010, funding for construction projects increase with Lower Ninth Ward first on its list. The funding was as follows: $60 million for street repairs, $50 million for rebuilding schools and $14.5 million for a new community center. As of 2012 there was little sign of new construction for this neighborhood (Parker, 2012). However, there is evidence that more families are returning, moving in, and people are taking pride in the community. This is evident in the increase of Community Gardens, small number of bilged homes removal, rebuilding of family homes, and a small number

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.

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.

However, this gave way to an entrepreneurial approach that primarily focused on local development and employment growth in the following decades. This is mirrored across the capitalist world, but is perhaps most evident in the United States where the reduction in the flow of federal redistributions and local tax revenues after 1972 led to this revival in civic boosterism and entrepreneurialism (Harvey, 1989). It certainly has far reaching consequences in that future growth prospects may all be about “playing the capitalist game”, the paving to a zero-sum development. To that, Harvey asserted that urban entrepreneurialism (1) is based on public-private partnership so that local boosterism attracts external sources of funding, direct investments, and employment sources, (2) is speculative in general and thus compounded with risks and difficulties that are absorbed by the local public sector, and (3) places emphasis on political economy rather than economic projects that improve living and working conditions. The extension is a prime example of this because it was intended to bring business and entertainment to the Hudson Yards neighborhood, and it did- many businesses in the area have seen increased profits since the project’s construction leading to a development boom in its vicinity. However, it faced its own risks and difficulties from the start, seeing that it was supposed to be funded by an innovative “tax incremental financing” that issued city bonds for the construction to be repaid by future tax revenue from developers (Jaffe,

To be effective advocates for small business utilization in DoD acquisitions, Small Business Professionals (SBPs) need to participate early in the acquisition process and throughout it, and become trusted members of the team. To accomplish this, SBPs must be knowledgeable of pre- and post-award support they can provide to the acquisition team, as well as how small businesses can help DoD meet its procurement requirements. SBPs have the greatest influence during the pre-solicitation phase of the process. The social initiative is to be recognized as trusted advisors where they understand the customer’s requirements and are knowledgeable of small business programs. As an acquisition sustainability strategy determines, SBPs should provide information on small businesses and how they might meet the requirements. Reciprocity relates to the idea that people like to return favors and pay back debts, which can lead to feeling obliged to repay an offer in some way to address discomfort with feeling indebted to someone else. Commitment is associated with the desire to follow through on something we’ve expressed interest in previously. Social proof is linked to the idea that if others are doing something we’re more likely to do it as well, particularly when feeling uncertain. Liking suggests that people are more likely to be influenced by people they like, which can come from similarity, trust, and familiarity. Authority is associated with credibility; people are more likely to

Community is very important and has many factors like kinship, unity, and identity. Community helps society because it creates solutions, provides security and reveals dedication. It discovers truthfulness. Communities are part of everyday life and have positive affects on its members.

There are many advantages and disadvantages when owning your own business. When you own you own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages.

The small business marketplace is extremely dynamic and the changes are fast. Here are some encouraging facts from the US Small Business Administration on small businesses. There are about 30 million small businesses in the United States and employ just over half of the country’s private workforce. They employ a staggering 40% of high tech workers such as computer professionals, scientists and engineers. More than half of the small businesses are home-based businesses and two percent of them are franchises. One of the most important aspects is the fact that a majority of innovations in the United States come from small businesses.

Sri Lanka has immense economic opportunity for aspiring entrepreneurs. The route that I would personally take if I lived in this country would be the venture into the Information technology industry. Sri Lanka is a developing country and with that IT can be a promising venture for any entrepreneur. According to the CIA, only 32.1% of the population are internet users and this could convey a possible business opportunity to inspiring entrepreneurs. A business startup that targets this market could bring immense value. The allocation of resources to achieve this could be a troublesome matter, but it could be done with hard work. There is competition in this industry, but an entrepreneur could set themselves apart from

“Contribute to the development of social community through positive communications with local communities and social action programs, and act as a responsible member of society” (Chavda, n.d.).