Small Business Case Study
explanatory Essay
1783 words
Although small businesses do not make a lot of major deals with large investors, most small businesses create profit revenue greater than large corporations. Small business creators are very brave considering only ten percent of small businesses survive. Unfortunately, some communities do not support local small businesses; they only support the large brand name and force small businesses to die out. Since small businesses will not have a name brand known around the world, many people from communities will not support them because they are not known on a national scale. “This, in turn will affect the local economy and drive capital out of their local economy. On average, for every one hundred dollars spent in an economy, if spent on a …show more content…
In this essay, the author
- Opines that small businesses should be supported if they want a community to survive and protect their economy.
- Explains that americans have visualized small business as an equalizing force creating social mobility, economic opportunity, and personal freedom.
- Explains that small business dominates anywhere that scale economies or administrative offer few advantages. retail, service, and the professions in particular are smaller business strongholds since personal service and individual reputation of the seller are more important factors to success.
- Explains that small businesses created a tight-knit culture and filled the gaps left in the market that couldn't be filled by large businesses.
- Explains that when spending money at a large corporation in your local economy, the return rate is much less noticeable than if you spent the same amount.
- Explains that small businesses impact the global economy more than large businesses. supporting local businesses can create a roaring economy and allow for economic stability and growth throughout the nation.
- Opines that it is not easy to open a small business of your own. there are more risks involved, such as the government's validity, minimum wage, and banks' rejection of small businesses.
- Explains that small businesses adapt quickly when they find their niche in the community. small businesses have employed more than half of all private-sector employees and generated 60 to 80 percent of new jobs.
- Explains that small businesses are important to local and global economies. they provide most of the job force, create the most revenue, and adapt quickly to help aid the company and area financially as needed.
To adapt quickly is when small businesses begin to hire new employees and of the most recent five years they have been adapting rapidly. “in fact, in recent years, small businesses have employed more than half of all private-sector employees and generated 60 to 80 percent of new jobs. Small firms have produced thirteen to fourteen more times more patents per employee than large firms and generated more than half of the annual growth domestic product” (Sered, Fernandopulle 115). Smaller firms can grow faster due to this rapid adaptability and continue to grow faster than larger firms. It takes a while for a larger firm to try and change its approach because it has to cancel all marketing schemes worldwide and that could cost more money than it would bring in, with small businesses it would not take much to adapt the outlook of your business to fit what is working financially. “Smaller firms are found to grow faster than their larger counterparts. Differences in investment and research and development outlays explain the superior job creation performance by smaller firms” (Zoltan 41). Small businesses have a greater rate of adaptability and it is because of how the financing is setup and how quickly they can hire new
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- explanatory
- opinionated
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In this essay, the author
- Explains the difference between a small business and corporation. both businesses take time to manage and skill and ability to do so.
- Explains that small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and/or less annual revenue than a regular-sized business or corporation.
- Explains that a corporation is constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession. it takes time to develop and requires skills and the ability to overcome stress and anxiety.
- Explains that as a business owner, you are your own boss. you set your work hours and work independently.
- Explains that the biggest disadvantage of starting and growing a business is financial. there's no guaranteed income, and the business owner is responsible for the well-being of employees.
- Explains that the liability of the owners towards the creditors is limited to their investment in the company.
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- Opines that there is no specific reason why small businesses are failing in today's america. they believe that small business financing and the marketing plans associated with those businesses can cause their demise.
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In this essay, the author
- Opines that owning a business takes hard work, determination, and knowledge. their goal is to start their own business and turn it into multi-million dollar company.
- Explains that their personal goal is to own a wealthy business and outlines three steps they have to take to get there.
- Opines that starting a business is not difficult, but keeping one alive is. the majority of businesses do not last.
- Opines that the only way to stay afloat in today's economy is to be different, and that god is the best foundation to start off with.
- Opines that businesses treat employees as short-term assets, when they should be treated as people. they plan to treat all employees equally, with respect and dignity.
- Explains that they plan on owning a wealthy corporation after graduating from college. to keep their business, they will have to be different than their competing businesses.
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In this essay, the author
- Explains that small businesses are legal entities consisting of few employees. proprietorships have a major advantage over other business structures with regards to filing taxes. local economies, government offices, schools and the unemployed benefit greatly from the growth stimulated by these companies.
- Recommends investing in an accountant to handle tax preparation and filing needs in addition to using accounting software to ensure reporting accuracy and tax compliance.
- Explains that tax errors result in costly penalties that have the potential to create instability that can contribute to the failure of a small business.
- Opines that cloud accounting software is becoming increasingly popular to effectively and efficiently manage the pulse of a company, and that hiring an accountant to assist with tax preparation and planning is invaluable.
- Explains that the most attractive feature offered by modern accounting software packages is web integration, which helps to facilitate the business and accountant relationship.
- Opines that small businesses can benefit from an accountant's extensive tax code knowledge to ensure tax savings are not overlooked.
- Explains that businesses that implement a tax planning strategy minimize taxes owed based on future goals, lower their tax rate, and take advantage of tax credits.
- Explains that self-prepared business returns have high instances of irs audit due to small businesses not keeping accurate records and making errors that involve under-reporting income on their business tax returns.
- Explains that a business may be selected for audit through the discriminant function system, which flags returns based on scoring systems.
- Opines that tax professionals are expert advisors on red flag items and controversial deductions. cpas conduct business with the irs in a manner that is cooperative without providing potentially damaging details.
- Opines that courageous, innovative, hardworking individuals venture on the difficult journey of realizing a dream with hopes of success at the heart of it all.
- Recommends that small business owners delegate complicated accounting processes to seasoned accountants to reduce the rate of tax errors and ensure tax compliance.
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In this essay, the author
- Opines that small businesses face economic uncertainty, overwhelming legislative regulations, and employee retention problems. they state that a third of small business owners rate the overall health of the us economy as their biggest worry.
- Opines that creativity can be overwhelmed with the legislative regulations imposed by the local, state and federal agencies.
- Explains that the greatest challenges for any business are hiring the right people for the job and keeping them. disadvantages such as wage level, benefit package and training make the competition for top performers an imposing challenge.
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- Opines that the entrepreneurial spirit will lead the way for the creation of new jobs as many join the ranks of self-employment.
- Opines that the "small business' enthusiasm" can be overwhelmed with the legislative regulations imposed by the local, state and federal agencies.
- Opines that legislators have created an environment that works against compliance and it also generates non-essential jobs with any given business.
- Explains that the last significant challenge facing small businesses is finding and retaining employees.
- Explains that when key positions remain vacant, productivity and profits can drop significantly. small businesses need to start from the beginning, spend time, money and effort in recruiting, hiring, and training replacements.
- Concludes that the entrepreneur that is starting a small business today faces many challenges when trying to establish his or her company in the market place.
- Cites bassett, j. w., clayton, c. and howe, k.
- Cites jacobe, d., kurlantzick, j. and mccracken.
- Cites neher, m., roberts, j. and roberts. small business optimism increasing, computer resellers news.
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- Narrates how they borrow £1000 to buy a car and have to pay back £1100 back to the borrower.
- Opines that the more you pay in, the better you will get.
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- Explains how money and go bankrupt can affect a person.
- Opines that this will attract a lot more people to buy from.
- Explains that a company in the uk that exports means that they make the goods in uk.
- Opines that people in the uk will want the exchange rate of pounds to be cheap.
- Explains that people need money to buy a house or car, so they get loan from the bank. the bank will lend them money but they want it.
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- Explains that the department will examine the procedures needed to complete the project and decide whether any of them might be easily combined or avoided.
- Describes other situations where the procedure requirements are similar and determines if there are any procedures that have been found.
- Explains that dr. lingwood and his research team must put vertoxin through three stages of testing in living human patients to get it onto pharmacy shelves across north america.
- Explains that when setting objectives, they looked at two main points: how much money we need, and how to decrease the time estimated to complete the experiments.
- Explains that dr. lingwood and i developed goal-achieving strategies after their objectives were set. they decided to take a snap shot of the department in the 'perfect world'.
- Recommends applying for a grant from the canadian cancer society and/or other appropriate government agencies.
- Explains how dr. lingwood and i took each strategy and broke it down as much as possible to ensure that all aspects were covered.
- Recommends applying for a grant from the canadian cancer society and/or appropriate government agencies.
- Recommends creating a report outlining the departments' organizational and operational responsibilities, and creating interactive activities involving the c.c.s.
- Explains that budget two is required to outline the departments financial.
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In this essay, the author
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- Explains that management characteristics can be divided into three big blocks: functions of the manager, manager‘s qualities or features and managerial style. nelson and economy (2005) present the following functions: planning, organizing, leading and controlling.
- Explains that there are several researches conducted in the area of influence of manager’s age and gender as fundamental characteristics, and education, breadth and depth of experience as developmental characteristics.
- Concludes that small businesses could benefit from having a manager with stronger entrepreneurial style, higher level of formal education, and more breadth of managing experience.
- States uddenberg, rönnbäck & almesker's view that organizational management plays a crucial role in the development of small firms.
- Explains that entrepreneurial managers' style has a highly valuable influence on small business performance while striving for growth in sales and profit, gross profit and market share.
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750 wordsRead More - Small Enterprises Case Studyexplanatory essayAs globalization accelerates, its potential or actual victims are trying to cope and hopefully turn themselves into winners. In particular, the development of small enterprises (SEs) will be seriously affected by globalization. This is not just an academic subject being talked about by people with PhDs: just look at the SE-owners and their friends who rioted in turkey this week.
In this essay, the author
- Opines that as globalization accelerates, its potential or actual victims are trying to cope and hopefully turn themselves into winners.
- Opines that while big companies are better able to cope with the threats and opportunities of globalization, ses need all the help they can get.
- Explains that nimble ses can take advantage of the increasing competition between large firms at the global level and the changing tastes of consumers.
- Explains that most states of the arab world, especially non-oil economies, followed import-substitution strategies. many industrial ses operated under some kind of protection from the states. globalization was not considered an important issue for se growth or survival.
- Opines that the reduction of custom duties under the world trade organization agreement will provide opportunities for ses to enter new export markets and improve access to production technologies, among other benefits of outward globalization.
- Explains that investment laws provide various exemptions from income tax and customs duties, but only to projects with high levels of capital investment.
- Explains that some agencies dealing with ses in the arab world are devising special programs to support them, focusing on improving the performance of individual firms through advisory services, credits, and training for upgrading technical and managerial skills.
- Explains that some organizations recommend policies to improve the macro-economic environment for ses through liberalization measures and facilitation of bureaucratic and administrative procedures, but few programs emphasize inter-firm cooperation and interaction to form networks, clusters, and self-help groups.
- Explains that international experience has proven that networks of firms or their clustering in one location and on a sectoral basis will contribute to enhancing their competitiveness and provide the appropriate framework or vehicle for intervention of support institutions.
765 wordsRead More - Small Scale Industry Case Studyexplanatory essay1. Introduction Small scale industry plays a very important role in the Indian economy. The Small-Scale Industries (SSI) in India is broadly classified into two types: Traditional industries and Modern industries. Under traditional industries basically khadi village industries, handlooms, handicrafts, Sericulture etc. are included (Shah. C et al. 2013).
In this essay, the author
- Explains that in small scale handicraft industry, posture is an important consideration in the design of work procedure and equipment.
- Explains that the study was undertaken with the objective to find out the postural risks and musculoskeletal problems experienced by handicraft workers in arunachal pradesh.
- Describes the work patterns of bamboo and wood craftsmen.
- Aims to study the work environment and working conditions of the worker in small scale traditional industries.
- Explains the need for the study to find out the work related posture, musculoskeletal problems and working conditions of the handicraft workers in arunachal pradesh.
- Explains that this study will help us to know about the health status and working condition of the worker working in small scale industry.
- States shah, c., vyas, n.j. (2013), musculo-skeletal disorders (msds) risk assessment in traditional small scale industries by using reba (rapid entire body assessment).
- Describes meena, m.l.et.al's occupational risk factor of workers in the handicraft industry: a short review.
- Explains that small-scale industries play a very important role in the indian economy. traditional handicraft is one of the most important industries employing many people. arunachal pradesh has rich tradition of handloom and carpet weaving.
876 wordsRead More