The Importance Of Small Businesses

Businesses are discovering the Internet as the most powerful and cost effective tool in history. The Net provides a faster, more efficient way to work colleagues, customers, vendors and business partners- irrespective of location or operating system harnessing this powerful resource gives companies strategic advantages by leveraging information into essential business asset. The "technology of the future" here today. This is a fact. Businesses making the transition will, and are prospering; however those that do not will most certainly suffer the consequences.

The internet offers the potential to achieve a global market success for any business. Businesses that go online increase their opportunities to reach their target market and is cost effective when compared with other forms of marketing. It creates opportunities, benefits and challenges for a business but in the long run is worth it for the added publicity and hopefully profits. Going online has benefited many organisations including Tesco PLC. I will be using Tesco as my example of the benefits, opportunities and challenges for a business by using the internet. Tesco has operated on the Internet since 1994 and started an online shopping service named 'Tesco Direct' in 1997 which

Having an online business that is centered on designing and hosting web sites means that it must work nearly 24/7/365. We are committing to excellent quality of service with the highest customer satisfaction. Assuming that your service is provided at a fair price, the differentiation between two companies lies at its quality and customer satisfaction. In order to be successful, we need to provide service and satisfaction

Small businesses are the heart of the United State economy. There are 28 million small businesses in America and count for more than 54% of sales (Small business trends, n.d.). Many of those businesses are started by entrepreneurs who are willing to take risks and develop their visions and dreams of owning a business in today’s competitive market. That was the case when Victoria Carolina Pocasangre opened Pocasangre Olivia Dental, a small dental practice in the heart of Clovis, California five years ago.

The Internet has had a insidious effect throughout the business world in the United States. Much has been written on this topic and it is really hard to avoid reading any business magazine without a discussion on how the Internet has influenced business outcomes and processes. It is widely accepted that the usage of the Internet is of a competitive necessity for survival of firms. There is also a knowledge that this digital age could possibly level the playing field for small business in certain sectors of the economy.

Online business using the internet has experienced significant growth over the last two decades. According to the Internet World Stats (2014) the number of worldwide internet

The Congress has the authority to impose requirements for the federal procurement policies. Through the acquisition process, the government procures goods and services from diverse players. The process consists of three phases that are, acquisition planning and need recognition, contract formation and contract administration. Federal acquisition regulation (FAR) regulates the activities of the government in the procurement process. The system does not regulate the activities of the private sectors, but it affects the operation of private firms incorporated into the federal government by way of solicitation and reference of contracts. Congress, on the other hand, imposes requirements on private sectors whereby, agencies of the government obtain goods and services from private individuals or sectors. One of these authorities comes to be when congress exercises its mandate by promoting subcontracting and contracting with small business entities (Columba, Gambacorta & Mistrulli, 2010).

Quality control represents the act of analyzing processes and monitoring operations to ensure that high quality standards are being met at all times. There are many statistical models that can be employed to ensure that the organizations operational objectives are being met. Furthermore, with the advantages of modern technology, these tools can also be used in a real time manner to monitor the quality on a perpetual basis. This can serve as the foundation in which management can try to minimize any operational problems as they occur as well as mitigate the likelihood that the same errors will occur in the future. In many cases simple statistical tools such as scatter plots, control charts, flow charts, histograms and many others can help the organization find the root of the quality problem quickly.

Small businesses face a number of problems and challenges on a daily basis, both in the local and international markets. In the UK, Small businesses face a myriad challenges and issues on a day-to-day basis. The internal and external problems are countless. Some of these issues include high cost of insurance, financial problems, high taxes, competition, transport issues, employee skills gaps, and health & safety issues among others. Competition is increasing at an alarming rate due to advancements in technology. Therefore, this paper attempts to examine the challenges and problems that SMEs in the UK face. Even though small businesses in the UK face competition challenges, they can employ Porter’s five forces of competitive strategy to help them stay ahead of competition.

We were unable to find any banks with programs to specifically assist in relocating individuals to new cities for work, although many banks have programs for affordable housing development.

Although, the market that offers goods and services is over-saturated at the moment, there is always the opportunity of a business, speculating the opportune moment when to enter the market, by zoning, by location or by the category of consumers to whom the offer of services is addressed. Personally, I believe that the biggest scarcity what I meet at this moment is the time, being very busy, sometimes I have the impression that it needs 48 hours to have a full day, but if I were to think of a business opportunity, the first example comes from my neighborhood.

I do not deny that the purpose of the business (if it moves beyond an idea) will be to connect businesses with consultants. As stated in my response dated 29 May 2017:

Business has thived on the internet, internet business are able to reach a wider market [2]"Through the internet, a business of any size can compete in the global marketplace. In fact, on the internet, the size of an organization's operation makes little difference because the internet is an open environment. " because anyone has access to the internet businesses can reach anyone also giving the customer a wider choice of products.

Entrepreneurial businesses generate wealth for society. A fraction of the wealth that is generated by businesses is retained by the entrepreneurs the lion's share of the wealth is shared by society. For example, consider that the wealth that Bill Gates generated through innovations at Microsoft have resulted in increased wealth for the majority of consumers of Microsoft products. As compensated productivity increases, so does private and corporate wealth. This paper explores the impact of entrepreneurial activity on new product development and process innovations including those associated with niche markets on contributions to communities, and on the contextual economy.

The importance of small and Micro Enterprises (SMEs) in the economy of any country cannot be overlooked. In fact for nearly 15 years, most researchers dealing with economic planning have highlighted the significance of these enterprises stating that they are a key player in realizing any country’s economic goals. As such, governments as well as other organizations with interest in development are laying plans and strategies to promote the establishment of Small and Micro Enterprises. This is seen as a move to ensure that there is full participation of SMEs in the country’s economy. The Small and Micro Enterprises have been known to contribute to a large extend as a source of innovation, entrepreneurial skills as well as source of employment. For example, statistics in 25countries of the European Union show that 99% of the jobs provided to its citizens come from the micro, small and medium-sized enterprises. Rowe (2008) points out that the British economy relies heavily on the participation of SMEs. On the other hand, 99% of the UK’s economy is composed of small and micro enterprises.