Factors Affecting The Growth Of Small Businesses

Livoria Sandwiches Inc. provides exceptional quality sandwiches at a great price. Livoria has been able to maintain profitability since inception and has continued to grow its business and revenues. Recent unforeseen external events have caused significant cash flow issues and shook the family business. Livoria is hoping to see annual net income of $1.1 million by 2015. This report will provide alternatives and the pros and cons of initiating these alternatives. A recommendation of one of the alternatives as well as an implementation plan will be provided to assist in obtaining the goal,

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.

Making the decision to leave the atmosphere of the café as is and focusing on up grading business operations from relaying on memory and notepads to run the business. Now, I must develop a strategy for a full turn around for the business to become successful. In doing so, I can use Porter’s Three Generic Strategies (Baltzan & Phillips, CIS 500 Business Driven Information Systems, 2009). The strategies consist of broad cost leadership, broad differentiation, and focused strategy.

The managers are crucial to the implementation of this new technology because they will drive the change in each of their individual locations. There are essential items that need to be covered to make sure this new system works as Dalman and Lei envision it. In order for the system to become effective Dalman and Lei along with the location managers must have honest discussion and believe in the vision which Sandwich Blitz is taking. They need to market this technology showing it is friendly and easy to manipulate and educate their customers so they can see that Sandwich Blitz will be able to provide even better customer service than before (Bateman & Snell, 2013).

Driving concept: to provide a premium specialty bakery and café experience to urban workers and suburban dwellers.

Planning and research are vital to opening any business, regardless of the service or product provided. If due diligence is not processed, failure is imminent. Knowing the competition, external and internal factors, staffing needs, and culture provide details what areas of business will be impacted both positive and negatively. Sandwich Blitz is no different. Looking at large-scale expansion can be a risky maneuver if strategic planning and goals are not set and put in place.

During testimony to the Small Business Committee it was said that the cost exceeded what Congress ever intended and had outweighed the benefit expected to shareholders and management (Iliev, 2010). The growth of small business is a prominent national interest and an important part of the economy but the regulations are not able to protect investors and simultaneously encourage their growth (Castelluccio, 2005). Fortunately, there have been subsequent laws passed that reduce standards as well as offer opportunities for exemption to certain regulations which offers some relief but not

* Opportunities - Opportunities are offered by the environment within which the sandwich/snack bar operates. These situations may rise when the sandwich/snack bar are taking benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. The sandwich/snack bar is able to achieve competitive advantage by making use of their given opportunities. However in occasions like this the sandwich/snack bar must be careful and recognize the opportunities and grasp them

Demo’s BBQ is a small family- owned business which sells premium brisket and pulled pork sandwiches accompanied by a wide variety of slaws to top your sandwich. Demo’s BBQ currently runs with 8 employees, these employees face a variety of scheduling challenges as most of them are soldiers working second jobs, add to this that at times some of these employees are in the filed or even deployed overseas. The intent of this plan is to focus on ways the company can grow not only in regards to the business itself, but also in regards to customer relationships as well as with developing and implementing new products and opening new store locations.

The first is the great need for small businesses for future economic growth, locally and internationally. There is a tremendous need for small business to keep up with technological advances and environmental changes. Small business can innovate and create new jobs at a faster rate than their larger competitors. Unfortunately, living in times of high crime, recurrent

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.

2. Continue being a nationally recognized brand name and dominate restaurant operator in the specialty bakery-café segment.

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.

Small businesses are important to the U.S economy for multiple reasons. According to the U.S Small Business Administration, small businesses represents for 99.7 percent of all employer firms, have generated sixty four percent of new jobs and paid forty four percent of the total united states payroll (Brown, 2017) . Small business is an important role not just in the US economy, but they also play a major role in the growth of the individual community that they are located in. Small businesses give citizens of the community an opportunity for employment by offering jobs that the individuals may not have to have degrees or accolades to qualify for unlike jobs in larger corporations. Although small business is very important to the economy and the community, often times small