Causes Of Small Enterprise Development

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.

Small businesses are the backbone of national economy and play a leading role in innovations as well as in creating jobs. Small business has the intrinsic needs to growth. Obvious contributions of the growth of small businesses include the increased return on investment and job creation. The interesting and valuable question is how small business grows and are all small businesses growing? It is no surprise that the growth of business is a core topic both in organization theory and entrepreneurship, both are interested in the process and causes of business growth. Stages of growth models, which assume that business go through some distinct stages from birth to maturity, have been the most popular theoretical approach in academic to understand small business growth. Although the stages model of growth has been criticized for being too sequential and linear which is unrealistic and inconsistent with empirical evidence (e.g. Phelps et al., 2007; Levie and Lichtenstein 2010), various new stages models of business growth have been developed since the 1960s.

The purpose of this paper is to identify how different factors effect on the growth of small businesses. The growth of small businesses has been influenced by factors such as growth strategy, business forms, short and medium term goals, financing assistance, organizational structure and staffing needs, customers and promotion, and ethics and social responsibility. In this paper will to discuss how the different factors alter the advancement of small businesses.

Sustainable development is defined as “Development that meets the needs of the present generations without compromising the ability of future generations to meet their own needs” (IISD, par. 1 ).

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.

Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).

Conclusion: This paper is intended to give clarity on the depths of small businesses, how they plan to succeed and get through possible adversity. The surviving mechanism it takes to maintain in a world where large businesses are expected to exist longer than small business.

If the small firm is actively involved in international trade as are most little firms in specific areas in Europe, case in point then worldwide business is an extremely important subject to study particularly if consolidated with cutting edge European dialects. One of the enormous brakes on the advancement of little firms is the way that a large portion of those that could stretch globally neglect to do so in light of the fact that they fail to offer any staff at administration level with the abilities to help them grow abroad.

Ministry of Enterprise Development, Industrial Policy, and Investment Promotion 2002,National strategy For small and Medium Enterprise Sector Development In Sri Lanka

On September 25th, 2015, countries adopted a set of goals to end poverty, protect the planet, and ensure prosperity for all as part of a new sustainable development agenda as laid out by the UN. Each of the 17 Sustainable Development Goals have specific targets to be achieved over the 15 years since inception. Specifically, they seek to build on the Millennium Development Goals with the aim of completing what they were not able to achieve. These include the realization of human rights for all, achievement of gender equality and the relievement of poverty, to name a few. These goals are “integrated and indivisible and balance the three dimensions of sustainable development: the economic, social, and environment.” (UN, 2015). This paper discusses the emerging role of small, and medium size enterprises (SME) in developing nations and the coming of social impact investing as one solution to accomplishing the UN goals of sustainable development. Specifically, this paper looks to ‘The Silicon Valley Model’ as a springboard for change with regards to expediting the growth of SMEs by the merging or replacing of existing models.

In view of the poverty situation in Bangladesh, the government’s major development objective is to create more employment in order to secure incomes and thereby reduce poverty. Because of the structure of small and medium enterprises (SMEs) in Bangladesh, which are mainly labor-intensive and the development of SMEs is considered to be the most effective contribution to the eradication of poverty.

The purpose of this report is to complete an analysis of a small or medium-sized business and entrepreneur in New Zealand (NZ) to gain further understanding of enterprise development strategies. The approach will focus on the development strategies of a small sized business - AB&C, an automotive repair company. Detailed analysis are divided into three sections; (1) Understanding AB&C’s business model drawing on the elements within the business model canvas, (2) Analysis of AB&C’s internal aspects and impact of external environment factors focus on resource-based perspective and Porter’s model of competitive forces and lastly; (3) Analysis of the role of business ethics, social consciousness and sustainability responsibilities and its influence to AB&C.

The dynamic role of small and medium enterprises (SMEs) in developing countries as engines through which the growth objectives of developing countries can be achieved has long been recognized.

Small to Medium Enterprises (SMEs) form the majority of the enterprises in Singapore’s economy. They employ over 70% of Singapore’s workforce and generate about 50% of the country’s total GDP. Most SMEs in Singapore grow from small enterprises into large competitive companies. Manufacturing and wholesale SME sectors have increased impressively with the number of employees in these sectors increasing by up to 8%. SMEs in the Finance, Property and holdings sector hold the top three sectors in terms of the amount of profits accrued. Competitive strategies in Singapore’s SMEs are based on the “3MK” key success factors; Management, Markets, Money and Knowhow (Bull & Winter, 1991). In this paper, the contribution of SMEs to Singapore, the economic constraints that face them, and the steps that can be taken to strengthen SMEs to ensure its sustained contribution to Singapore‘s economy will be discussed.

If efforts are put towards promoting SMEs, particularly, the likes that are concerned with the informal sector, achievement of development that is sustainable is inevitable. Most developing as well as developed countries depend on the small and micro enterprises in the provision of employment. Even though a number of small and medium-sized enterprises are not part of the formal sector that is