Small business

Small businesses are the heart of the economic and social system. The risks are indeed great, but the opportunities for success, both financial and psychological, are greater. The characteristics of the successful small business owner are rewarded a very huge fortune. Creativity, innovation, and willingness to take risk also characterize the most successful managers in business. But starting and running a successful small business is no easy task. Many prospective small business owners want to go into business for themselves. So, they hope to avoid many traps.
To describe the small business, advantages and disadvantages of small business.
• To define a small business concept and how to begin small business.
• To qualify small business categories.
• To characterize success and failure for small business.
• To describe how small businesses are financing.
A small business is a business that is independently owned and operated, with a small number of employees and relatively low volume of sales. (1)
The legal definition of "small" often varies by country and industry, but is generally under 100 employees in the United States and under 50 employees in the European Union, in Australia, small business is defined as 1-19 employees. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The smallest businesses, often located in private homes, are called micro businesses. A micro business is a small business or enterprise with less than 5 employees and little access to commercial banking. (2) Many micro businesses are side-businesses run via the internet. “Size isn’t the issue. The issue is which firms are adding jobs “(Griffin R., Elbert R. 1995:220).
Small businesses are common in many countries, depending on the economic system in operation. It include: small shops, hairdressers, lawyers, accountants, restaurants, guest houses, photographers and so on. A small business can not be a part of another business because operators...

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