...decades have seen record numbers of entrepreneurs launching business. In 1969, entrepreneurs created 274,400 new corporations; today, the numbers of new incorporation exceeds 600,000 in a typical year! Another indicator of the popularity of the entrepreneurship is the keen interest expressed by students in creating their own businesses. Increasing number of young people are choosing entrepreneurship as a career rather than joining the ranks of the pinstriped masses in major corporations. In short, the probability that you will become an entrepreneur at some point in your life has never been higher! Research suggested that entrepreneurial activity remains vibrant not only in the United States but across the globe as well. According to the Global Entrepreneurship Monitor (GEM), a study of entrepreneurial activity across the globe, 10% of the U.S population aged 18 to 64 is engaged in entrepreneurial activity. The study also found out that 9.5% of people in the 42 GEM countries analyzed are involved in starting a new business. Even countries that traditionally are not know as hotbeds of entrepreneurial activity are home to promising start-up companies. 2. WHAT IS AN ENTREPRENEUR (Page 5 to Page 8) At any given time, an estimated 10.1 million adults in the United States are engaged in launching a business, traveling down the path of entrepreneurship. An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of...
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...Small Business Paper 1 Over the last few years major retail companies have been hacked. Target, Sony and even Walmart, you may think that only big name companies get hacked. But to be honest small business are the major target of hackers because they do not have the resource or knowledge as the top dogs. According to Symantec Threat Report 82% of stolen information could have been protected if business had and follow a security plan. So what are some threats that small business face today, for example let’s take a look at a kiosk at a shopping center. Kiosk’s is an 8 billion dollar industry in the United States, the average mall has 20 kiosk and they sell apparel, cell phone and accessories all the way down to home décor. Why are kiosks at the mall so vulnerable to system threat? Because most of them us an iPad or computer to make their daily transactions. Let’s take a look at some of the threats a kiosk had to deal with. Number one since they use a computer or iPad that’s need to be connected to a network this alone is a huge threat because hackers can easily hack the network and get customers financial information. According to Symantec/Small Business Technology Institute Study 60% of small business have open wireless networks. This leads me to the second threat that a small business can get is a malicious code. Small businesses try to save money so they don’t really think about an anti-spyware program or anti-virus because of this the system is defenseless against a...
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...Introduction Small business growth is the process through which small market enterprises transform to huge enterprises with high revenues. A business growth strategy is applied to transform a small business into a big one according to the organization`s goals. Transforming a business requires a change of organization structure and sometimes a change of business form. Additional financing is also necessary to increase the level of operation of a business. Customers have to be wooed through promotions to enable the business to maximize its profits. Growth Strategy Strategy is a purposeful choice to be different. Business growth strategy involves selecting alternatives and tradeoffs that will give the business competitive advantage. There are several growth strategies available to a business. They include market penetration, market development, alternative channels and product development. Currently Jayne has been using market development strategy to grow her business. This is where an organization seeks to sell more of its existing products in the adjacent markets (Dahl, 2010). She has acquired three bicycle towed concessions to distribute her products to neighboring areas. Jayne’s expansion plan will require a change of growth strategy to market development growth strategy. This is where a business creates a new product to sell to new consumers and existing customers (Dahl, 2010). Jayne’s short term goals include becoming a more profitable enterprise offering a wide variety of...
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...Small Business Examination Kirk Carlson LDR/531 Small Business Examination The small business is very important to the national and work economy. The small businesses employ almost half of the workforce within the United States of America. The small business has been a force of stability for the United States economy. Small business owners tend to be innovative and come up with unique ideas that make profits. The author of this paper will examine a small business within California called Extremely Clean Inc. Extremely Clean Inc. Extremely Clean Inc. is a commercial and residential cleaning service that was incorporated in 2008. The organization focuses on commercial and residential structures, which provides the organization with a wide array of clients from virtually all industries and living conditions. The organization does walkthroughs for each potential client; the organization will make a quote, negotiate a price, and create a contact. The organization provides a variety of services to include: auto detailing, carpet cleaning, upholstery cleaning, window cleaning, air duct cleaning, and water restoration. The organization employs a talented staff of cleaning professional experts in various cleaning disciplines. The organizational structure of Extremely Clean Inc. is a hierarchy and the chain of command within the organization is clearly defined. Each employee’s job description is mission specific and allows the employee to understand where they fit within the organizational...
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...TITLE: SMALL BUSINESS ASARE, NANA 19 JUL 2015 MBA 610 There are three types of small entities. • "Small businesses" are defined in section 3 of the Small Business Act, 15 U.S.C. . 632, and in the SBA's regulations at 13 C.F.R. . 121.201 (2002). 5 U.S.C. . 601(3). • "Small organizations" are any not-for-profit enterprises that are independently owned and operated and not dominant in their fields (for example, private hospitals and educational institutions). 5 U.S.C. . 601(4). • "Small governmental jurisdictions" are governments of cities, counties, towns, townships, villages, school districts, or special districts with a population of less than 50,000. The size standard used by the Small Business Administration to define small businesses varies by industry; however, the SBA uses the "fewer than 500 employees" cut off when making an across-the-board classification. (A large percentage of small entities are not covered by EEOC laws, because they employ fewer than 15 employees.) If EEOC wishes to use a different definition for any of these types of small entities for purposes of an RFA analysis, it must consult with the Office of Advocacy at the SBA, publish the alternative definition for comment and publish the final definition in the Federal Register. If EEOC seeks to change the definition of small business in a general rulemaking context, it should contact the Administrator of the SBA. In accessing the Equal Employment Opportunity...
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...Topic: The Role of Information Technology in Small Business Success Case Study: SME ERP System Sourcing Strategies. Research Question: Are ERP’s necessary for today’s small business to succeed. Annotated References: Sledgianowski, D., Tafti, H.A. M., & Kierstead, J. (2008). SME ERP system sourcing strategies: a case study: Industrial Management + Data Systems, 108(4) 421. doi: 10.1108/02635570810868317. Using Case studies of Small Medium Enterprises, this paper identifies ERP sourcing strategies that are available to them. In preparation, this case study utilizes several sources of input were made use of, including informal conversations, emails, interviews etc. The practices by SME’s compared to what they should be are also examined and compared. Deb Sledginaowski is a well-known writer in the business sector with 9 articles in the USMAI library catalogue. Mr. Tafti is also a prolific writer in information technology with as much as 7 journals in one research database while Kierstead, Jim does not appear to have previous articles written by him, his ability to team up with seasoned and respected writers Kyvik, O., Legar-Jamio, C., Tarabishy, A. (2009). The use of Information technology and innovation in entrepreneurial small frims. Council for Small Business (ICSB). World Conference Proceedings. This study explores the relationship of the entrepreneur’s ability and the use of information technology. The study also proposes the existence of the digital mindset...
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...10 Tips from a Successful Small Business Owner Small business owners wear a million different hats. From product development to customer service to order fulfillment to basic HR functions, you do it all in the course of a typical day. But how do you ensure the success of your business when you're focused so much on day-to-day survival? We talked to successful small business owners to see what advice they had to share, and we've pulled their best tips together right here. 10. Create systems that can run without you. As a small business owner, you provide the heart, soul, mind, and muscle that keeps your business running, so the idea of your company running without you can be difficult to accept. But as hard as it is to relinquish control, it's essential if your business is to grow to the next level. There are only so many hours in the day, and one person (even one extremely dedicated person) can only do so much. Be sure that the information and knowledge you possess exists somewhere besides your own brain. If there are critical skills that you alone possess, train your people to do them better than you do, and see how much faster your company can move when there are more hands to share the important work. 9. Hire great employees, then get out of their way. It can be intimidating to hire and work with people who you're pretty sure are smarter than you are. But just as keeping key information to yourself restricts the growth of • $150 back after first purchase, $100 after $5k...
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...Starting a Small Business UNIT 36 M1 – Pheonix Jones In this document I will be making recommendations on how market research will help launch the business. Target Market Questionnaires The questionnaire included such questions like gender, age preference of food and occupation. Asking these sorts of questions will help us find data regarding if there is a demand for a business like this, which is vital to launch the business. The questionnaire will also help find out the target market which was 16-20 year old students and office workers. We can use this information to create a target market that can be designed to suit the campaign; this means we can also put through promotions to match because we already know the target market. Therefore we can do deals when the business is open, maybe where students get a percentage off goods or a meal deal with the student card. Analysis Defining the target market and its needs are essential, geographically the location is quite small in the area of Weston town, but with students coming from around North Somerset is a wider area. We are mainly looking for students aged 16-10, who is averagely on a lower income than others. Physiologically they want benefits, like good value food which is fast. With all these facts in mind, we can see that the target market want affordable and fast food that can fit in a social atmosphere and the lifestyle of the target market. Competition Check the competition around that area can give us an upper hand...
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...Abstract This paper explores the reasons why small businesses should begin to utilize the benefits of the internet and e-commerce to continue to grow their businesses. This is persuaded by the explanation of the continuous evolution of today’s society and how it is becoming more digital and mobile. The emergence of e-commerce and now e-tail has transformed the world of business and begun to make the world of buying products more convenient for customers. It is imperative that businesses begin to utilize the internet with this evolution and the benefits that come with it such as social media marketing, lower costs for the business, and other convenient benefits for the customer and owner alike. There have already been companies that have been able to succeed using the internet such as Karmaloop and Netflix. Although it is being shown that many companies are flourishing using the internet there are still some businesses that are not yet on board with this movement, which they need to soon reconsider. This paper will be used to persuade these business owners to begin to use the internet in order to help their businesses continue throughout the continuous evolution of our society. In today’s society everything has become digital. People all around the world are using cellphones, laptops, tablets, and all kinds of other new innovative technology. One of the main things that people do with these devices is shop for other products that they may want or need. This...
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...Characterisitcs of Small Business/ Small Business in Bangladesh ------------------------------------------------- Nature of Small Business: 1. Small physical size 2. Small investment size 3. Small employment size 4. Management Style :Hired or Self 5. Market Size: Limited ,Local or Wide & Foreign Small Business classifies the following types of businesses as small if they meet the criteria listed below: 1. Manufacturing firms: A manufacturing firms is classed as small if it has 250 employees or less. Manufactures take raw materials and change into finished goods for sale 2. Services: Service firms with annual receipts of $2 million or less are classed as small. A service firm provides services for customers, and types of service firms including hotels, barber and beauty shops, all types of repair shops, plumbers, and electricians. 3. Wholesaling: Wholesalers with annual receipts of $9.5 million or less are classed as small. Wholesalers buy and resell merchandise sell in significant amounts to final consumers. 4. Research & Development: Firms engaged in developing newer methods, techniques of production, sales and software system can serve others who are in need of those. 5. Consulting: Consultancy services with regard to efficient management, project appraisal, raising sources of finance, methods of reducing risk, technical and engineering services etc. are providedthrough these types of firms. 6. Retailing: A retail firm is small if it has...
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...Problems and prospects of our small industries Published : Saturday, 05 January 2013 Women working in a small industrial unit Md Atikur Rahman Every country wants to develop. We believe that industrial development can bring in faster development for any country. A well-conceived industrialization strategy, be it import substitution industrialization or oriented industrialization, can be useful in accumulating wealth. Many of the developing countries have achieved development through industrial development. Most developed countries are industrially developed countries. Europe and America's quick development came through industrial development. Japan, Korea, Taiwan, Hong Kong and Singapore became economically developed by having quick industrialization. In late 20th century some countries like Malaysia, Thailand, China, Indonesia and also Philippines developed by quick industrial development. So our government should concentrate more on industrial development in our country. On the other hand, many small industries play a pivotal role in the economic development of a country. Even countries like Japan and the USA that can boast of some of the largest industrial units in the world, had their rapid development and great prosperity thanks to their small industrial units. The most important single argument that can be advanced in their favour is their capacity to generate a large volume of the employment. In Bangladesh, capital is scarce, but cheap labour is abundantly...
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...Small businesses are part of every country and many of them would consider them to be crucial to their economic success. There are many differences between small and large businesses including the laws that protect them. For example, while reviewing the U.S. Equal Employment Opportunity Commission website, I was surprised to find out that businesses under 15 employees or 20 employees for age discrimination cases are not covered by the laws enforced by the EEOC. After all, I think that all businesses should abide by the same rules and regulations. It made me wonder even more why the big businesses or really small ones (under 15 or 20 employees) would be excluded and who is there to protect the employees of these corporations. I was only able to find one explanation on the website and it was that, while the information in their website applies to all employers, it has been specifically designed for small businesses which may not have a human resources department or a specialized EEO staff. I also assume that one reason as to why they also exclude the really small businesses is that a workplace that has less than 20 or 15 employees is less vulnerable to any sorts of discrimination. I think it is important to further understand the role of the EEOC. The Equal Employment Opportunity Commission is there to investigate discrimination cases against private sector employees and to resolve such cases through conciliation or other informal methods. When these methods are not sufficient...
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...Abstract In this paper I will cover the various elements, policies and procedures to taking a business online. Inside this paper I will conduct a SWOT analysis, show how I plan to overcome any cultural barrier that may be presented and how I maintain compliance with our stringent federal trade laws. Exposing My Small Business to the World The possibilities for expanding and increasing your business in today’s times are endless. The World Wide Web allows us small business owners opportunities that we have never had before with these increased opportunities, there are also increased problems. I will outline how I took my business online and combatted these underlying issues. Identify the advantages and disadvantages of taking your small business online by performing a SWOT analysis. Include 2-4 items in each category. The New Jersey shore boardwalk is a tourist haven. A small business owner can make a considerable profit if they have a product that the consumers want at a price they love. My clothing store NEW Images opened last year. In this failing economy it was often discouraging to sit in the store for days at a time with only a few sales and many “window shoppers”. I decided quickly that if I want to survive I must take this business online. The thought of exposing my business to millions of new customers was euphoric. I could literally taste the profits. I put my plan into effect by first taking note of the advantages. The first advantage was the cost...
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...Experiment: Building a Network for a Small Business Gustavo J. Cazares GS1140 January 5, 2015 There are many things to consider when designing and building a network for a small business from the ground up. Among the first thing to take into account are how many computers will be needed and what kind of processing will be done with those computers on the new network (McQuerry, 2008). The next thing to consider is an overall budget for the project. Once all these factors have been taken into account, a plan can be made and implemented. Now with a budget and design in place, the hardware can now be chosen and purchased. If only light computing such as data processing, email, and filing will be done, then the computers themselves will not need to be as high end as if the computers were going to be used for video and photo rendering. For an office with ten computers being used solely for data input and record keeping, the estimated cost would be roughly $10,000 (Newegg.com, 2015). That would include: 10 computers, software, wireless internet router, a network storage device and all the cables required. Internet service would also have to be taken into account as there are many options on internet service providers and one option would be cable internet at an estimated cost of $3,400 per year. Now that all the equipment and the internet service have been selected and purchased, the next step would be construction of the network. The average hourly rate of an Internet Technology...
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...Research Paper Accelerate Your Small Business-eBay Every year there are hundreds of thousands of companies that surface themselves as new small businesses. With that said every year there are also hundreds of thousands of small businesses that close down (1). There are many contributing factors to a successful small business. One of the greatest marketing tools to sweep the retail industry is eBay. EBay has allowed and continues to allow both small businesses as well as individuals to market and sell new goods. EBay has been a great entry point for many small businesses into e-commerce. However, eBay has also led to a problem that manufactures should be aware of, product integrity. EBay started out in 1995 as an online marketplace for the sales of goods and services from one individual to another (2). Individuals would simply list items that they no longer have a use for on eBay. Others, interested in a particular good would search eBay in hopes of discovering a treasure. As the saying goes one mans trash is another mans treasure. Well, after sometime eBay became a real hit. Are you asking yourself what this online flea market has to do with business? A few entrepreneurs had the idea to search beyond the confines of their residences for items to sell. Soon there were bargain hunters that would travel from yard sale to yard sale looking for just the right items. Some of these bargain hunters developed small businesses with the aid of eBay. Instead of getting up early every...
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