Friday, December 27, 2019

Small Business Essays - 1489 Words

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses. The first step to starting a business is to create a business plan. A business plan is a document that outlines the overall strategies of a new venture and how those strategies will be implemented (Ebert †¦show more content†¦However, the business owner can also attempt to operate his/her business by bootstrapping, which refers to the operation of an entity by using limited sources of capital (Gregory, n.d.). In addition, the financial factors should also include financial planning. Financial planning normally refers to the cash flow and income statement, balance sheet and breakeven analyses. Therefore, there are three major sections to an ideal business plan that are the organizational goals, the sales forecasts, and the financial factors. After the creation of a business plan, the next step to operating a business is the selection of an appropriate business structure. Different legal forms of business ownerships affect different managerial and financial factors from the business names to the tax obligations (Gregory, n.d.). The most common forms are sole proprietorship, partnership, cooperatives, and corporations. There are different types of corporations in the business world, but the two most general corporation types are S Corporation and Limited Liability Company (LLC) (Ferrell et al., 2013). The sole proprietorship is the easiest and most basic form of business ownership. It is owned and run by one individual, which is the proprietor. The individual is entitled to all profits and is responsible for all the business’sShow MoreRelatedEssay On Small Business1382 Words   |  6 PagesServiced Office Spaces Benefit Small Businesses Serviced offices are becoming more and more attractive to small business owners especially those operating in U.S main cities such as New York, Kansas, Los Angeles, Miami and Las Vegas among many others. One can easily access prestigious rental serviced office spaces like the ones we offer in the heart of Midtown Manhattan. Furthermore, serviced office spaces located in trendy and upmarket areas provide start-ups and small companies the chance to raiseRead MoreBenefits Of A Small Business2005 Words   |  9 PagesI. Executive Summary In order to finance future expansion or get past a temporary business slow down (particularly in seasonal business) it is necessary to raise working capital and that involves determining which method of financing is best; debt or equity. II. Business Challenge One of the main challenges businesses face when trying to grow is how to raise the necessary working capital to achieve the necessary growth, whether for additional employees, inventory or plant expansion, technologyRead MoreEntrepreneurs And Small Business Owners1893 Words   |  8 Pagesand small business owners within academia, and how they can be defined and differentiated. This paper will explore how small business owners and entrepreneurs are divergent, through the similarities and differences between their ventures, characteristics and motivations. This essay will examine academic text to express these differences and show what characteristics create an entrepreneur which has the skills and power to develop a growth firm. While attempting to differentiate small business ownersRead MoreThe Dummies Guide For A Small Business2645 Words   |  11 PagesResolutions 11 Possible Solutions 11 Longitude and Latitude 13 Scope 13 Conclusion 13 â€Æ' Abstract The purpose of his proposal is to provide inquiry and identify the best way to implement fundamental plans to individuals who wish to build and run a small business in addition to the lack of information they may bear on the importance and sustainability of protecting their networks and data against cyber-attacks. Figure 1: Map Display of international cyber-attacks. â€Æ' Introduction In recent years, CybercrimeRead MoreSmall Business2016 Words   |  9 PagesChapter Seven Aida Moua Small Businesses and Entrepreneurship: Economic Rocket Fuel Review Questions 1. 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Nowadays there are many independent businesses running both online and offline such as online shops, restaurant, saloon, etc. Some may think that it is just a part-time job to have an extra salary, but the truth is, we can get a large amount of incomes if we have a good man agement skill. Establishing a small business can be easy or hard dependingRead MoreBusiness Strategy Of Small Business1321 Words   |  6 PagesIntroduction Small business can be kept up by individual or accessories by putting their shares in an association. The capital for little endeavors is not high to accomplish wide edges in the business segment. At the point when appeared differently in relation to medium scale and significant scale business financing, little scale business needs to oblige its business operations inside the limited measure of capital. Proprietor of little ventures conceives that it s difficult to manage regular operationsRead MoreEssay on Small Business1238 Words   |  5 PagesSmall Business 2 In accessing the Equal Employment Opportunity Office (EEOC) website, I found it very hard to find a clear and concise reason as to why small businesses were treated differently than the larger businesses and why the law would differentiate between them. These smaller organizations are sometimes treated differently by the EEOC because they lack the resources that most large companies possess. Most small businesses cant afford to hire the best qualified people that

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