Free

Small Businesses: Theory and Policy - Essay Example

Summary

In the paper “Small Businesses: Theory and Policy” the author analyzes a business that employs less than 100 employees according to the US standards. Small businesses come into being because they serve as a source of income for the retired mostly…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER95.3% of users find it useful

Read Text Preview

Subject: Business
Type: Essay
Level: College
Pages: 2 (500 words)
Downloads: 2
Author: cormierromaine

Extract of sample "Small Businesses: Theory and Policy"

When starting a small business, one of the major important decisions one has to take is the selection of the location. This is one of the riskiest decisions an individual takes while starting a business. Usually, the trend has been observed that people prefer to install their businesses in the area of their hometown. This place is closer to their family and friends. There are many reasons for this choice. The first or the foremost is the personal reason according to which people usually don't want to leave their hometown and develop a business away from their families when they can happily do in their own vicinity closer to people they love and care about.

While taking such a crucial step in life, one needs their family the most (Perri, 2006). In many cases, the family is not able to migrate with the business figurehead of the family and that person tries to minimize the probability of moving away from the family for the business. Installation of a business should be done considering in mind the permanent nature of it; all businesses are started under the assumption they will run forever. Also, another reason for the person to install their business in their vicinity is that over time to a business person might have been able to develop sound business relationships with the people living in that area and he or she might then be able to work effectively in that areas only among the people they know the best (Campbell, n.d.).

Starting a business at a place that is new also poses many threats of deceit and treachery. Therefore, keeping the above aspects in mind, it is advisable for the prospective small business starters to install their businesses in the area which is in physical proximity of their family and friends so that they are spared of the trauma of leaving their loved ones and operate with full concentration on the business. Also, the person might be able to develop sound relationships in the vicinity will help them work their businesses out in a much better manner than other places.

Personal preferences to this extent should be acceptable and should be considered when starting a new business.

Cite this document

APA
MLA
CHICAGO

(Small Businesses: Theory and Policy Essay Example | Topics and Well Written Essays - 500 words, n.d.)
Small Businesses: Theory and Policy Essay Example | Topics and Well Written Essays - 500 words. https://studentshare.org/business/1524736-starting-a-small-business

(Small Businesses: Theory and Policy Essay Example | Topics and Well Written Essays - 500 Words)
Small Businesses: Theory and Policy Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/business/1524736-starting-a-small-business.

“Small Businesses: Theory and Policy Essay Example | Topics and Well Written Essays - 500 Words”. https://studentshare.org/business/1524736-starting-a-small-business.

Cited: 0 times

CHECK THESE SAMPLES OF Small Businesses: Theory and Policy

An Analysis of Factors Leading to Failure of Small Businesses in The Amur Region

This dissertation "An Analysis of Factors Leading to Failure of small businesses in The Amur Region" shows that small businesses are highly regarded as important drivers of a country's economy.... The Organization for Economic Co-operation and Development (OECD) has published a report in this aspect, explaining how small businesses play a crucial part in the Russian attempts.... This publication is important in outlining the background of the Russian policies for small businesses as well as the current business landscape in the country....

10 Pages (2500 words) Dissertation

Growth strategies in small businesses

Running Head: GROWTH STRATEGIES IN small businesses Growth Strategies in small businesses [Name of the Writer] [Name of the Institution] Growth Strategies in small businesses Introduction Over the past decades, the rapid developments of the Internet and the information technologies have profoundly impacted every aspect of organisational and social activities.... Running Head: GROWTH STRATEGIES IN small businesses Growth Strategies in small businesses of the of the Growth Strategies in small businesses Introduction Over the past decades, the rapid developments of the Internet and the information technologies have profoundly impacted every aspect of organisational and social activities....

1 Pages (250 words) Dissertation

Positive Accounting Theory

The theory of Positive Accounting seeks to make relevant accounting transactions based on the predictions of real world situations....

5 Pages (1250 words) Research Paper

How can US Small business survive in a Global Economy

34 Pages (8500 words) Research Proposal

Small and Large Businesses

The paper "Small and Large Businesses" presents that the project begins with making a distinction between large and small businesses.... small businesses are owned privately.... small businesses have regional or local operations.... Large businesses, on the other hand, are those in which there are separate management and ownership.... These businesses are also seen to have dominance over the industry.... It tries to discuss the ways in which large enterprises attain more stability as compared to small ones....

6 Pages (1500 words) Term Paper

Small and medium enterprises

A very famous concept in business studies known as transaction-cost theory should be followed in order to increase the certainty level of the success of the partnership (Yasuda, 2005).... This theory illustrates and suggests that the SME should make alliance with a partner that can minimize the sum of the fixed and continual costs throughout the business process.... This paper “small and medium enterprises” highlights 6 major contributors for the success of SMEs, derived from research and case studies....

12 Pages (3000 words) Essay

Causes of the UK Small Firm's Revival

The theory of economies of scale in determining the size of the business and its growth.... The paper “Causes of the UK small Firms' Revival” argues that Bolton's report has informed the officials on the value of the SMS sector in the country's economic stability.... The government provided financial assistance - small firms' modernization programs, soft loans, tax breaks, and incentives.... hellip; The clear evidence of the small firm revival in the UK economy is analyzed for finding out the degree of revival and its contribution to the economic development of the nation....

12 Pages (3000 words) Coursework

Leadership in Small Business

This research, however, addresses the success and failure of small businesses, irrespective of the economic situation, and the impact leadership will have on the business.... economic recession began, small businesses like all other players in the economy have been negatively hit.... small businesses are a crucial part of the economy, therefore, there is much scope and need for study in the area.... This means that small businesses have a different set of factors affecting their operations and everyday activities, and their concerns and issues are also different in nature....

19 Pages (4750 words) Research Paper