Starting A Small Business Can Be Risky 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.

The good news is that small businesses have been doing better than the overall economy. During the past few years, they have overcome rough times and developed a resiliency that is serving them well. The bad news is that the rising

Small businesses are the core of the engine that runs the American economy. They are a very intricate and essential part of what makes America strong. Annually there were approximately 400,000 new small businesses started every year in the United States of America. Before the recession the normal business closure for companies in America were approximately 100,000 annually. This rate of exchange between new and closing businesses is known as “the birth and death rate of American companies”. After the recession the death rate of businesses in the United States has increase exponentially, growing from 100,000 companies a year to approximately 470,000 companies closing annually (Joseph, 2014). Most may think this is a result of the recession,

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.

Small business is at the heart of the economies of small towns all over the United States. Yet, big box stores like Wal-Mart and Target are growing increasingly popular in these same communities. This is because they are able to provide a wide variety of goods and services and the lowest prices possible. In weaker economies, these convenient and thrifty options can help stretch a family’s wallet and minimize the time it takes to run a household. However, these benefits come at a cost. Many have argues that Wal-Mart destroys any competition in a small town, ruining small businesses.

Launching a high risk/ high return business is not a simple process. There are several key factors and criteria that need to be met in order for your venture to have a chance. Ignoring them would most likely result in complete failure, and this is why a large number of startups fail in their early stages. This simulation is meant to help me identify the key pitfalls and factors of success.

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.

Building customer relations is a priority among small business owners and there may be no better way to achieve this than through customer service. When people think of customer service they tend to think about how they are treated while at an establishment. Unlike a Big Box store, local merchants have time to spend conversing with customers. There aren't long lines or impatient customers, so the pressure to work quickly is nonexistent for the local merchant. It makes for a very pleasant shopping experience. Another aspect of customer service is the knowledge a retailer has regarding its products. Local merchants order their products first-hand and are more knowledgeable about the merchandise they carry. They are even more likely to order items a consumer seeks to purchase if not

It doesn't take a professional to realize that small businesses add character to the streetscapes and banks and chains dull it. A failure to any small town are 10 windows in a row that look the same.

Experience shows 90% of family and small businesses generally fail, because of lack of leadership, decision making, or to become fully professional and competitive in the market. It is on Mr. Pacheco’s shoulders, as the family business leader, this decision rest, to keep the existing path – or - grow and prosper with a new structure.

Several studies have shown that when it is essential to use resources from locally owned business significantly more because this can help to strengthen the economic base of the community. Below are the steps that need to be followed for

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.

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.

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