The Power of Small Businesses in America Essay

The Power of Small Businesses in America Essay

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It is a little known fact that small businesses make up a major factor of the American workforce. Since the word small is in the title most people think nothing of them, but when one takes the time to think that there are millions of small businesses, most with at least two to ten workers, the amount of people begins to add up. There are many factors that could contribute to a business failing, and it happens all the time in America. Small businesses must have solid business plans, a good use of technology, appealing merchandise, and appropriate financing to survive and prosper in the economy.
In America eight out of ten small businesses fail in just their first year. Competition and lack of financing are two huge factors that lead to businesses failing. In 2009 more and more workers started to leave their more secure jobs to start their own business and become entrepreneurs. (Hannon 68) Over six hundred thousand small businesses were started, but that number means nothing if eighty percent of them (480,000) were doomed to fail in only twelve short months. (68)
Even though small businesses are a huge factor to boosting the economy in times of economic downfall, with their creation of decent paying jobs, the thought of them receiving help is often times pushed to the side. (Leonard 18) The success of ones’ business most times depends on the owners marketing abilities. (Arensmeyer 5) More importantly their ability to avoid making false claims, for that in the business world, is one of the quickest ways to get sued. (5)
Managing a business can be very stressful especially being that most times one would be making decisions that could lift or drive their business straight into the ground. (Arensmeyer 3) One of the most important th...

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Works Cited

Arensmeyer, John. "Small Business Matters." 23 Jan. 2014.

Bagley, Rebecca. "Innovate, Grow, Succeed: Staying Competitive In Today's Economy." 18 Mar. 2013.

Careers In Focus: Financial Services. New York: Ferguson, 2006.

Demuth, Erin. “Small businesses draw buyers in with popular merchandise.” The Post Star. 28 Nov 2006

Hannon, Kerry. “Kick-starting a business of your own.” U.S. News and World Report. Mar 2010. p. 68-70

Leonard , Jeffrey. "Do Small Business A Simple Favor." Washington Monthly Jan. 2011: 18-19.

Nucifora, Alf. “Small businesses utilize point-of-purchase advertising.” Business Journal Serving Fresno & the Central San Joaquin Valley. 19 Jul 1999. p. 2-4

Panissidi, Paula. “Developing a Marketing Plan.”

Scott, Alex. Personal Interview.14 Feb 2014.

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