Small businesses face economic uncertainty, overwhelming legislative regulations, and employee retention problems. Small Business represents more than 99 % of all employers and employs more than one half of the private sector. It also generates one half of the United States private G.D.P. ( PR Newswire, Oct 29, 2014 pNA).
In light of the significance of small business to the economy, it should be a grave concern when a third of small business owners rate the overall health of the United States economy as their biggest worry, rating higher than terrorism, the war on Iraq or healthcare costs. ( PR Newswire, July 12, 2014 pNA). Normally, during periods of economic sluggishness, it is small business that paves the way for a rebound. However, this trend has not appeared during the recent down turn in the economy which began in 2001. A major reason for small business failure to bolster the economy is a result of their inability to raise capital due to the decimation of the Small Business Administration's loans program ( Harpers Magazine, July 2014, V309 il 850 p79(2)). It appears that the very fuel that normally would stoke the economic furnace has been diluted through cost cutting measure as a result of a floundering economy. Such challenges will test the creativity and viability of small business.
Unfortunately, that creativity can be overwhelmed with the legislative regulations imposed by the local, state and...
... middle of paper ...
...wamped by flood of regs [Electronic version]. The Business Journal, 13(46), 29.
Kurlantzick, J. (2014). Economy of scale: President Bush has been no friend to small business. [Electronic version]. Harper's Magazine, 309(850),79.
McCracken, J. (1997). Big 3 drain talent from small firms. Crain's Detroit Business, 13(35), 15
Neher, M. (1995, October 15). Red tape, worker's comp worry businesses [Electronic
version]. Daily Journal World, E-1.
Protection service for employees (2014, September). Manufacturers' Monthly, 17.
Roberts, J. ( 2014, September 02) Small business optimism increasing, Computer Resellers News.
Small business owners more concerned about economy than terrorism, (2014, July 12). PR Newswire ,.
Smaller firms can and do find health insurance (2014). Crain's Chicago Business, 27(42), 20.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Over the past month, I have completed comprehensive research on the legal and ethical issues facing businesses. Throughout this research, I have analyzed many of the situations a new business owner would face, such as forming the business through day-to-day operations, legal and ethical risks, and methods to reduce potential liability. I have used my findings to create my own business plan. The type of company I have started is a restaurant, which operates in the food service industry. The name of my restaurant is called The Southern Taste.... [tags: Corporation, Business, Business ethics]
923 words (2.6 pages)
- I think the four biggest tech challenge facing small businesses today, are hiring new employees, increasing profits, managing cash flow, and last voiding client dependence. First one, I will start with is hiring new employees in a small business is hard when you do not have the same perks of a big corporation for example Six Flags them offer their employees discounts. But with small business they are trying to do big corporation perks, but have small business money so small business should focus on what they can offers and learn to promote their company on social medial since in today world that where a lot of employee see help wanted sign.... [tags: Business, Small business, Management, Employment]
725 words (2.1 pages)
- As LaunchScore is a new startup, they are constantly evolving. LaunchScore has made major progress in developing their website and gaining user feedback in recent months, but there are still issues the company is facing. The two major problem areas of focus for our team were developing the content included in LaunchScore’s downloadable market research report, and the lack of new and returning users to their website. The basis of LaunchScore is to provide a market research report which will be sold to its users to generate some revenue for the company.... [tags: Small business, Entrepreneurship, Economics]
1131 words (3.2 pages)
- Introduction ‘Entrepreneurship has always been important. The concept of a person or group of people using their minds and creativity to solve a problem is both the foundation of a business and also basis of human progress” – (https://richardhlucas.wordpress.com)An entrepreneur is a person who accepts a large risk in order to use their creative initiative to start a company. Entrepreneurial activity is the backbone of the economy, and leads to economic growth, creates job opportunities, and raises stability and creativity.... [tags: Entrepreneurship, Entrepreneur]
981 words (2.8 pages)
- What can be learned from The Small Business Life Cycle Model 2005 Table of Contents <ol> <li value="1"> Abstract <li value="2"> Introduction <li value="3"> Body <li value="3">1 Pioneer phase </ol> 3.1.1 Characteristics 3.1.2 Crisis 3.2 Functional phase 3.2.1 Characteristics <ol> <li value="3">2.2 Key challenges <li value="3">2.3 Crisis <li value="3">3 Integrated phase <li value="3">3.1 Characteristics <li value="3">3.2 Limitations <li value="3">4 Associated phase <li value="3">4.1 Characteristics <li value="5"> Conclusion <li value="4"> References <li value="5"> Appendix <li value="5">1 Figure 1 </ol> Abstract Each company has to start from the small business unit wit... [tags: Management]
2126 words (6.1 pages)
- 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.... [tags: Small business, Business, Economics, Employment]
1783 words (5.1 pages)
- 1) Small businesses are the cornerstone of the American economy, having comprised 46% of the country’s private nonfarm GDP in 2008 (Kobe, 2). We underestimate the importance of even the smallest of businesses, from the local grocery stores we buy our milk and eggs at, to the mom and pop shops that litter the avenues and boulevards of our small towns, catering to the communities that support them. Small businesses are all around us, they encapsulate our everyday lives. We all have personal experiences with them; perhaps we are related to the owner, worked at one, or just frequent a specific one often enough to be considered a regular.... [tags: Small business, Business, Entrepreneurship]
1354 words (3.9 pages)
- In 2007, according to Statistics Canada, only 36% of small businesses had a website, and only 7% sold their products or services through the internet (Evans, and McHutchion, 2011). Owners of small businesses must have a return on each investment in everything they do for their businesses, even more when they spend money in online tools and online marketing strategies (Berkley, 2010). On the other hand, 91% of big businesses are on the internet, and 22% of them, sell online (Evans, and McHutchion, 2011).... [tags: Marketing, Small business, Business, Big Business]
1169 words (3.3 pages)
- What is it that makes some small businesses fail while others go on to resounding success. It is an unfortunate fact that a lot of businesses do not make it in the long run. What separates those that thrive from those that don’t. The difference is that certain habits and traits are what allow some small business owners to make their own luck and run successful companies. Let’s look at the ten most important: 1. Big Dreams Dreamers build successful businesses. “Business owners often create something out of nothing,” states founder and CEO of SmallBizTrends.com Anita Campbell.... [tags: Small business, Business, Entrepreneurship]
805 words (2.3 pages)
- The purpose of this paper is to discuss how to start a business. Within this paper can be found details on how to get the idea and get started, how to discern if there is a market while considering who the competition will be, how to write a business plan, as well as how to fund a business. The details within this paper will focus on the entrepreneurial strengths and knowledge gained from the class Entrepreneurship in the 21st Century. Ideas and Getting Started In order to develop a successful entrepreneurial idea, one must first find their true niche.... [tags: How to Start a Business, Business Plan, Market]
1100 words (3.1 pages)