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Opportunities in Small Business

Opportunities in Small Business. Chapter 21. Small-Business Opportunities. Small Business- we are referring to a business that: Usually has the owner as the manager. Is not dominant in its field of operation. Employs fewer then 500 people. Usually is local, serving the nearby community.

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Opportunities in Small Business

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  1. Opportunities in Small Business Chapter 21

  2. Small-Business Opportunities • Small Business- we are referring to a business that: • Usually has the owner as the manager. • Is not dominant in its field of operation. • Employs fewer then 500 people. • Usually is local, serving the nearby community. • Venture Business- on that has been in operation for less then 3 years and has no employees other then the other.

  3. Small-Business Problems • Bankruptcy- A situation in which a business does not have enough money to pay its creditors even after selling its equipment and other capital resources. • Creditor- a person or business that is owed money. • Closing- a situation in which the business is discontinued with a loss to at least one creditor.

  4. Help Available for Small Businesses • Small Business Administration(SBS)- a government funded organization that helps small-business owners borrow money as well as manage their businesses more efficiently. • Small Business Institutes(SMI’s)- are programs offered in cooperation with colleges and universities to provide management counseling.

  5. Help Available for Small Businesses • Service Corps of Retired Executives (SCORE)- whose members can provide assistance in special areas of operation, such as finance, accounting, and marketing. • Venture Capital- money used to start up a new small business or help a business expand during a growth period.

  6. Young Entrepreneurs • Entrepreneur- is someone who takes a risk in starting a business to earn a profit. • Entrepreneurship- is the process of starting, organizing, managing, and assuming the responsibility for a business.

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