Small business - Knowledge (XXG)

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impacted greatly after one attack. Many small businesses will struggle to gain confidence and trust in their customers after being known for having problems prior. The cost of fixing the cyber attack would require experts outside of their field to further the investigation and find the problem. Being down for a business means losing money at the same time. This could halt the online operations and mean the business could potentially be down for a long period of time. Loss of capital and assets ties well in with the cost of fixing the issue. During a cyberattack, a business may lose its funds for that business. Worst-case scenario, a business may actually lose all its working capital and funds. The legal difficulties involved with cybercrime can become pricy and hurt the business itself for not having standard security measures and standards. Security not only for the business but more importantly the customer should be the number one priority when dealing with security protocol.

1144:(fewer than five hundred employees) in the US and approximately 14,000 big businesses". It has been found that small businesses created the newest jobs in communities, "In 1979, David Birch published the first empirical evidence that small firms (fewer than 100 employees) created the newest jobs", and Edmiston claimed that "perhaps the greatest generator of interest in entrepreneurship and small business is the widely held belief that small businesses in the United States create most new jobs. The evidence suggests that small businesses indeed create a substantial majority of net new jobs in an average year." The U.S. Small Business Administration has found small businesses have created two-thirds of net new private-sector jobs in the US since 2007. Local businesses provide competition to each other and challenge corporate giants. Of the 5,369,068 employer firms in 1995, 78.8 per cent had fewer than ten employees, and 99.7 per cent had fewer than five hundred employees. 1153: 849:. Corporations can file bankruptcy, but if it is out of business and valuable corporate assets are likely to be repossessed by secured creditors, there is little advantage to going to the expense of a corporate bankruptcy. Many states offer exemptions for small business assets so they can continue to operate during and after personal bankruptcy. However, corporate assets are normally not exempt; hence, it may be more difficult to continue operating an incorporated business if the owner files bankruptcy. Researchers have examined small business failures in some depth, with attempts to model the predictability of failure. 33: 811:

entrepreneurs or capitalists. While nearly all owner-managers of small firms are obliged to assume the role of capitalist, only a minority will act as entrepreneurs. The line between an owner-manager and an entrepreneur can be defined by whether or not their business is growth-oriented. In general, small business owners are primarily focused on surviving rather than growing; therefore, not experiencing the five stages of the corporate life cycle (birth, growth, maturity, revival, and decline) as an entrepreneur would.

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not distinguish between their personal and business interests. Lenders also often skirt organizational (corporate) boundaries by seeking personal guarantees or accepting privately held assets as collateral. Because of this behavior, researchers and analysts may wish to be cautious in assessing the organizational types and implied boundaries relating to owner-managed firms. This includes the analysis of traditional accounting disclosures and studies that treat the firm as defined by a formal organizational structure.

960: 861:, due to characteristics inherent in their size. Owners of small businesses often participate heavily in the day-to-day operations of their companies. This results in a lack of time for the owner to coordinate socially responsible efforts, such as supporting local charities or not-for-profit activities. Additionally, a small business owner's expertise often falls outside the realm of socially responsible practices, which can contribute to a lack of participation. Small businesses also face a form of 887:. Both lower wages and fewer benefits combine to create a job turnover rate among U.S. small businesses that is three times higher than large firms. Employees of small businesses must adapt to the higher failure rate of small firms, which means that they are more likely to lose their job due to the firm going under. In the U.S. 69% of small businesses last at least two years, but this percentage drops to 51% for firms reaching five years in operation. The U.S. 226: 550:

mandates and lack true independence. It is an assumption that small business is just franchisees, but the truth is many franchisers are also small businesses. Although considered to be a successful way of doing business, literature has proved that there is a high failure rate in franchising as well, especially in the UK, where research indicates that out of 1658 franchising companies operating in 1984, only 601 remained in 1998, a mere 36%.

206: 285:. Successful entrepreneurs have the ability to lead a business in a positive direction by proper planning, adapting to changing environments, and understand their own strengths and weakness. Spectacular success stories stem from startups that expanded in growth. Examples would be Microsoft, Genentech, and Federal Express which all embody the sense of new venture creation on small businesses. 589: 726:

Start-up expenses are often grossly underestimated adding to the burden of the business. Failure to provide this level of funding for the company could leave the owner liable for all of the company's debt in bankruptcy court under the theory of undercapitalization. Start-up businesses are often faced with reduced or no credit terms from suppliers due to lack of funds or trading history.

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for sex: 55% were owned by males, 36% by females, and 9% being equal ownership of both males and females. As for race: 72% were white/Caucasian, 13.5% were Latinos, 6.3% were African American, 6.2% were Asian, and 2% as other. As for educational background: 39% had obtained a bachelor's degree or higher, 33% had some college background, and 28% received at least a high school diploma.

1405: 189:(although these professionals can also work for large organizations or companies). Small businesses vary a great deal in terms of size, revenues, and regulatory authorization, both within a country and from country to country. Some small businesses, such as a home accounting business, may only require a business license. On the other hand, other small businesses, such as 799:. Small businesses are legally obligated to receive a fair portion (23 per cent) of the total value of all the government's prime contracts as mandated by the Small Business Act of 1953. Since 2002, a series of federal investigations have found fraud, abuse, loopholes, and a lack of oversight in federal small business contracting, which has led to the diversion of 1277:(SBA) runs several loan programs that may help a small business secure loans. In these programs, the SBA guarantees a portion of the loan to the issuing bank, and thus, relieves the bank of some of the risk of extending the loan to a small business. The SBA requires business owners to pledge personal assets and sign as a personal guarantee for the loan. The 389:, the National Small Business Amendment Act (Act 26 of 2003) defines businesses in a variety of ways using five categories previously established by the National Small Business Act (Act 102 of 1996), namely, standard industrial sector and subsector classification, size of class, equivalent of paid employees, turnover and asset value excluding fixed property. 1094:– After the launch of the business, crucial points of focus should be the growth phase (adding customers, adding products or services, and/or expanding to new markets) and working towards the maturity phase. Once the business reaches the maturity stage, an extension strategy should be in place. Re-launching is also an option at this stage. 621:; because, it can easily serve specialized niches, something that would have been more difficult before the Internet revolution which began in the late 1990s. Internet marketing gives small businesses the ability to market with smaller budgets. Adapting to change is crucial in business and particularly small business; not being tied to the 830:, a tool that is considered one of the most important factors for a venture's success. Business planning is associated with improved growth prospects. Funders and investors usually require a business plan. A plan also serves as a strategic planning document for owners and CEOs, which can be used as a "bible" for decision-making 834:

basics of a foreign language could be the solution to open doors to new trade markets, it is a reality that not all foreign business partners speak English. China is stated to grow by 7.6% in 2013 and still, 95% of business owners who want to export to China have no desire and no knowledge to learn their local language.

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the business. To create a continual stream of new business and find new clients and customers, they must work on marketing their business continuously. Low sales (the result of poor marketing) is one of the major reasons for small business failure. Common marketing techniques for small business include

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United Kingdom Trade and Investment gives out research in different markets around the world, and research in program planning and promotional activities to exporters. The BEXA's (British Exporters Association) role is to connect new exporters to expert services. It can provide details about regional

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The monetary dollar damage caused by cybercrime in 2016 equaled out to be over 1.33 billion dollars in the United States alone. In 2016, California alone had over 255 million dollars reported to the IC3. Certain cyber attacks can vary on how long it takes to solve a problem. It can take upwards to 69

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should have access to a sum of money at least equal to the projected revenue for the first year of business in addition to the anticipated expenses. For example, prospective owners anticipating 100,000 in revenue the first year with 150,000 in start up expenses should have at least 250,000 available.

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in bulk. There was a study research done between 1990 and 2002 about how relationships like partnerships and alliances can make a big difference for small businesses. They go deep into the three main ideas, of how a business owns its own resources help, how much they have to rely on outside help and

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and terms can change unpredictably. Recent research suggests that the use of credit scores in small business lending by community banks is surprisingly widespread. Moreover, the scores employed tend to be the consumer credit scores of the small business owners rather than the more encompassing small

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Although small businesses have close relationships with their existing customers, finding new customers and reaching new markets is a major challenge for small business owners. Small businesses typically find themselves strapped for time to do marketing, as they have to run the day-to-day aspects of

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inertia associated with large corporations, small businesses can respond to changing marketplace demand more quickly. Small business proprietors tend to be in closer personal contact with their customers and clients than large corporations, as small business owners see their customers in person each

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on behalf of its retailer members. Retailers' cooperatives use their purchasing power to acquire discounts from manufacturers and often share marketing expenses. They are often recognized as "local groups" because they own their own stores within the community. It is common for locally owned grocery

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are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable. However, some franchisees conclude that they suffer the "worst of both worlds" feeling they are too restricted by corporate

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In 2016 a study that examined the demographic of small business owners was published. The study showed that the median American small business owners were above the age of 50. The ages were distributed as 51% over 50 years old, 33% between the ages of 35 and 49, and 16% being under the age of 35. As

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to report to, which is the situation for a corporation's CEO. Many people desire to make their own decisions, take their own risks, and reap the rewards of their efforts. Small business owners possess the flexibility and freedom to make their own decisions within the constraints imposed by economic

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The United States census data for the years 2014 and 2015 shows the women's ownership share of small businesses by firm size. The data explains percentages owned by women along with the number of employees including the owner. Generally, the smaller the business, the more likely it to be owned by a

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Many small businesses are sole proprietor operations consisting only of the owner, but many have additional employees. Some small businesses that offer a product, process or service, do not have growth as their primary objective. In contrast, a business that is created to become a big firm is known

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Researchers and analysts of small or owner-managed businesses generally behave as if nominal organizational forms (e.g., partnership, sole-trader, or corporation), and the consequent legal and accounting boundaries of owner-managed firms are consistently meaningful. However, owner-managers often do

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An international trade survey indicated that the British share of businesses that are exporting rose from 32% in 2012 to 39% in 2013. Although this may seem positive, in reality, the growth is slow, as small business owners shy away from exporting due to actual and perceived barriers. Learning the

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Self-employment provides work primarily for the founders. Entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to grow big or become registered, but startups refer to new businesses that intend to grow beyond the founders, to have employees, and

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from larger forces in their respective industries, making it difficult to oppose and work against industry expectations. Furthermore, small businesses undergo stress from shareholder expectations. Because small businesses have more personal relationships with their patrons and local shareholders,

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assumption is that an expert in a given technical field will be an expert at running that kind of business. Additional business management skills are needed to keep a business running smoothly. Some of this misunderstanding arises from the failure to distinguish between small business managers as

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are two popular options of getting small business products or services in front of motivated web searchers. Social media has become an affordable route of marketing for small businesses. It is a fraction of the cost of traditional marketing and small businesses can do it themselves or find small

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Many small businesses can be started at a low cost and on a part-time basis, while a person continues a regular job with an employer or provides care for family members in the home. In developing countries, many small businesses are sole-proprietor operations such as selling products at a market

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According to "The Family Business Review", "there are approximately seventeen million sole-proprietorship in the US. It can be argued that a sole-proprietorship (an unincorporated business owned by a single person) is a type of family business" and "there are twenty-two million small businesses

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A disadvantage of having a small business is the challenge of finding and keeping talented employees. Small tech companies have difficulty in retention when larger companies are interested in the same talent. Workers can be acquired from out of country but strict immigration rules are limiting.

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One study showed that small, local businesses are better for a local economy than the introduction of new chain stores. By opening up new national level chain stores, the profits of locally owned businesses greatly decrease and many businesses end up failing and having to close. This creates an

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Cybercrime in the business world can be broken down into 4 main categories. They include loss of reputation and consumer confidence, cost of fixing the issue, loss of capital and assets, and legal difficulties that can come from these problems. Loss of reputation and consumer confidence can be

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which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy. The qualifications vary depending on the country and

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as a way to reach out to their loyal customers to give them news about specials of the day or special coupons, generate repeat business and reach out to new potential clients. The relational nature of social media, along with its immediacy and twenty-four-hour presence lend an intimacy to the

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woman. The data shows that about 22% of small businesses with 100-500 employees were owned by women, a percentage that rises the smaller the business. 41% of businesses with just 2-4 employees were run by women, and in businesses with just one person, that person was a woman in 51% of cases.

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establishes small business size standards on an industry-by-industry basis but generally specifies a small business as having fewer than 500 employees for manufacturing businesses and less than $ 7.5 million in annual receipts for most non-manufacturing businesses. The definition can vary by

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days for an average everyday attack on a business. The types of attacks include viruses and malware issues. Employee activities within the workspace can also render a cyber attack. Employees using mobile devices or remote work access off the job makes it easier for a cyber attack to occur.

670:'s Directive on annual financial statements of 2013 aims to "limit administrative burdens and provide for simple and robust accounting rules, especially for small and medium-sized enterprises (SMEs)". In the UK, the Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 277:

as a startup. Startups aim for growth and often offer an innovative product, process, or service. The entrepreneurs of startups typically aim to scale up the company by adding employees, seeking international sales, and so on, a process which is often but not always financed by

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counts companies with as much as $ 35.5 million in sales and 1,500 employees as "small businesses", depending on the industry. Outside government, companies with less than $ 7 million in sales and fewer than five hundred employees are widely considered small businesses.

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While small businesses employ over half the workforce in the US and have been established as a main driving force behind job creation, the quality of the jobs these businesses create has been called into question. Small businesses generally employ individuals from the

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are examples of a retailers' cooperative. Retail cooperatives allow consumers to supply their own earnings and gain bargaining power outside of the business sector. Retail cooperatives mainly reside within small communities where local businesses are often shut down.

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H.R. 2382, the Credit Card Interchange Fees Act of 2009; and H.R. 3639, the Expedited Card Reform for Consumers Act of 2009: Hearing Before the Committee on Financial Services, House of Representatives, One Hundred Eleventh Congress, First Session, October 8,

1086:– Marketing mix is a crucial factor for any business to be successful. Especially for a small business, examining a competitor's marketing mix can be very helpful. An appropriate market mix, which uses different types of marketing, can help to boost sales. 1127:

In the US, small businesses (fewer than five hundred employees) account for more than half the non-farm, private GDP and around half the private sector employment. Regarding small business, the top job provider is those with fewer than ten

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the EU Directive into UK law and amended the reporting regime for reduced disclosure accounts for any accounting period commencing on or after 1 January 2016. "Abbreviated accounts" were permitted for smaller entities under "FRSSE", the

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programs. While small businesses can be classified according to other methods, such as annual revenues, shipments, sales, assets, annual gross, net revenue, net profits, the number of employees is one of the most widely used measures.

879:. As a result, in the U.S., wages are 49% higher for employees of large firms. Additionally, many small businesses struggle or are unable to provide employees with benefits they would be given at larger firms. Research from the U.S. 608:

industries. Consider how few major corporations would be willing to deal with the risks and uncertainty that small antique store deals with buying and selling non-standardized items and making quick assessments of the value of rare

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introduced a special micro-entrepreneurship tax system with a non-taxable base of 24 million AMD. Accordingly, a micro-business will be exempted from taxes other than income tax which will not exceed 5,000 AMD per employee.

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business credit scores that include data on the firms as well as on the owners. Many owners seek a bank loan in the name of their business; however, banks will usually insist on a personal guarantee by the business owner.

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export contacts, who could be made informally to discuss issues. Trade associations and all major banks often provide links to international groups in foreign markets, and some help set up joint ventures and trade fairs.

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generally defines a small business as one that has fewer than fifty employees and either turnover or balance sheet less than €10 m. but the European Commission is undertaking a review of this definition. By comparison, a

948:. TV ads can be quite expensive, so they are normally intended to create awareness of a product or service. Another means by which small businesses can advertise is through the use of "deal of the day" websites such as 1289: 2370:

Lepoutre, Jan, and Hoyehnusy Ezekiel "Investigating the Impact of Firm Size on Small Business Social Responsibility: A Critical Review." Journal of Business Ethics 67.3 (2006): 257-273. JSTOR. Web. 3 January

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Small businesses (often carried out by family members) may adjust quicker to the changing conditions; however, they may also be closed to the absorption of new knowledge and employing new labor from outside.

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exponential effect. When one store closes, people lose their jobs, other businesses lose business from the failed business, and so on. In many cases, large firms displace just as many jobs as they create.

1783:*Healers, S. Purdy, D. Stanworth, C. Watson, A.2004. Franchising as small business growth strategy: A resource-based view organizational development: International small business journal,22(6), pp 539-599 3080:

Nopper, Tamara K. "Minority, black and non-black people of color: ‘New’ color-blind racism and the US Small Business Administration's approach to minority business lending in the post-civil rights era."

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to provide marketing and connect members to potential sales leads and suppliers, and as advocacy groups, bringing together many small businesses to provide a stronger voice in regional or national

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comes in as the third (interpolation of data from the following references). The most recent data shows firms with fewer than twenty employees account for slightly more than 18% of the employment.

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were allowed to use this standard. For accounting years ending on or after 1 January 2016, FRSSE is no longer available, but there are options known as "abridged accounts" and "filleted accounts":

1359:. In the case of independent business alliances, promoting the value of locally owned, independent business (not necessarily small) through public education campaigns is integral to their work. 1003:

programs now available for beginners. A website can provide significant marketing exposure for small businesses when marketed through the Internet and other channels. Some popular services are

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United States. Small Business Administration. "Frequently Asked Questions". Frequently Asked Question About Small Business. SBA Office of Advocacy, January 2011. Web. 21 March 2012.

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and leaves a link to the small business's own website. Posting to a blog about the company's business or service area regularly can increase web traffic to a company website.

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have become a highly effective way for small businesses to position themselves as experts on issues that are important to their customers. This can be done with a proprietary

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Bean, Jonathan James. "Beyond the broker state: a history of the federal government's policies toward small business, 1936-1961" (PhD Diss. The Ohio State University, 1994).

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The legal definition of "small business" varies by country and by industry. In addition to the number of employees, methods used to classify small companies include annual

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Aoyama, Yuko. "Policy interventions for industrial network formation: contrasting historical underpinnings of the small business policy in Japan and the United States."

317:, all the manufacturing and service enterprises having investment "Not more than Rs 10 crore" and Annual Turnover "not more than Rs 50 crore" come under this category. 2399:

Edmiston, Kelley. "The Role of Small and Large Businesses in Economic Development." Economic Review 92.2 (2007): 73-97. Academic Search Complete. Web. 18 March 2012.

741:. When they first start, many small business owners underprice their products to a point where even at their maximum capacity, it would be impossible to break even. 2119:

Armstrong, Craig E. (28 October 2013). "Competence or flexibility? Survival and growth implications of competitive strategy preferences among small US businesses".

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ads are a very cost-effective way for small business owners to reach a targeted audience with a very specific message. In addition to the social networking sites,

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Alternatively, the smallest companies are able to file "micro-entity accounts". FRS 105 is a Financial Reporting Standard applicable to the Micro-entities Regime.

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problems and other unfavourable payment practices. The SBC's role is to make non-binding recommendations advising on how the parties can resolve a dispute.

1468: 1299:, government support for small and medium-sized enterprises is handled via the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), based in 647:

and other environmental factors. However, entrepreneurs have to work for very long hours and understand that ultimately their customers are their bosses.

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circumstance—for example, a small business having fewer than 25 full-time equivalent employees with average annual wages below $ 50,000 qualifies for a

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indicates that employees of large firms are 17% more likely to receive benefits including salary, paid leave, paid vacation, bonuses, insurance, and

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Another problem for many small businesses is the capacity of much larger businesses to influence or sometimes determine their chances for success.

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they must be prepared to withstand closer scrutiny if they want to share in the benefits of committing to socially responsible practices or not.

2865:"External Relationships and the Small Business: A Review of Small Business Alliance and Network Research*: JOURNAL OF SMALL BUSINESS MANAGEMENT" 1419: 197:, and restaurants serving liquor are more heavily regulated and may require inspection and certification from various government authorities. 2834:"Armenian parliament adopted amendments to Tax Code: changes are aimed at improving the competitiveness of the national economy | Finport.am" 2692:"The Surprising Use of Credit Scoring in Small Business Lending by Community Banks and the Attendant Effects on Credit Availability and Risk" 2675: 2647: 1929:

Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of businesses

1879: 576: 2896:"Steve Lohr, "Small-Business Forces Unite; Meeting Drafts Proposals For Carter Memories of Earlier Gatherings Small-Business Forces Unite", 980:

has a higher lead-to-close rate than traditional media. Successful online small business marketers are adept at utilizing the most relevant

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Independence is another advantage of owning a small business. A small business owner does not have to report to a supervisor, manager, or a

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relationships small businesses can have with their customers while making it more efficient for them to communicate with greater numbers.

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platform for small businesses in history as an alternative source of financing. The platform operates under the name of Rock The Post.

3097: 2949: 1715: 1488: 1118:– Selecting an effective channel of distribution may reduce the promotional expenses as well as overall expenses for a small business. 2266: 1966: 1074:

group's behavior and shopping patterns. Analyzing the competitor's marketing strategies makes it easier for small businesses to gain

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Hope, John B.; Mackin, Patrick C. (2007). "The Relationship Between Employee Turnover and Employee Compensation in Small Business".

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stall or preparing hot food to sell on the street, which provide a small income. In the 2000s, a small business was well suited to

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debt—usually a risky choice, given that the interest rate on credit cards is often several times the rate that would be paid on a

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In addition to ensuring that the business has enough capital, the small business owner must be mindful of contribution margin (

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overlap but carry important distinctions. These four concepts are often conflated.Their key differences can be summarized as:

1509: 1434: 1367: 1348: 1995: 1310:(SBC) provides information and advice for small businesses and deals with complaints resolution with specific reference to 3188: 3002:

Birch, D. (1979). The job generation process. Unpublished Report, Massachusetts Institute of Technology, prepared for the

1478: 1444: 1410: 1274: 1062:– To produce a marketing plan for small businesses, research needs to be done on similar businesses, which should include 888: 880: 325: 74: 2291: 210: 2604: 1483: 1307: 1023:

has proven to be very useful in gaining additional exposure for many small businesses. Many small business owners use

826:" approach in a desperate attempt to exploit the market which is not that successful. Over half of small firms lack a 272:

small business: an organization that is small (in employees or revenue) and may or may not have the intention to grow.

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self-employment: an organization created primarily to provide income to the founders, i.e. sole proprietor operations.

2024: 1759: 1584:"The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle" 1393:, have interactive programs and training to help young people run their own small business under adult supervision. 2548:"U.S. Small Business Administration Office of Advocacy: The Small Business Economy 2008, A Report to the President" 1732: 1453: 1351:, as well as national or international industry-specific organizations. Such groups often serve a dual purpose, as 32: 1699: 1686: 1547:

Shailer, Gregory E. P. (1 September 1993). "The irrelevance of organizational boundaries of owner-managed firms".

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Small businesses often face a variety of problems, some of which are related to their size. A frequent cause of

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When the small business fails, the owner may file for bankruptcy. In most cases, this can be handled through a

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is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser).

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Small businesses often join or come together to form organizations to advocate for their causes or to achieve

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Richbell, S. M.; Wardle, P.; Watts, H. D. (2006). "Owner-managers and Business Planning in the Small Firm".

1494: 1114: 972: 959: 737:). To break even, the business must be able to reach a level of sales where the contribution margin equals 2057: 977: 876: 687:

Abridged accounts: accounting for profit / loss begins with the declaration of gross profit or loss, not

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Mazzarol, Tim, and Delwyn Clark. "The evolution of small business policy in Australia and New Zealand."

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Small business policy in Japan and the United States: a comparative analysis of objectives and outcomes

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Several organizations in the United States provide help for the small business sector, such as the

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has fewer than 250 employees and either turnover less than €50 m. or balance sheet less than €43 m.

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Big government and affirmative action: The scandalous history of the Small Business Administration

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European Commission, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs

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Small businesses are encouraged per public policy on taxation. For example, from January 1, 2020,

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Business in black and white: American presidents and black entrepreneurs in the twentieth century

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of the Internet, it can be time-intensive to advertise on enough websites to garner an effective

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The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015: Explanatory Note

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Filleted financial statements or filleted accounts: profit and loss accounts are excluded, but

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Another problem for many small businesses is termed the 'Entrepreneurial Myth' or E-Myth. The

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Fox, W.F.; Murray, M.N. (2004). "Do Economic Effects Justify the Use of Fiscal Incentives?".

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Canadian small businesses can take advantage of federally funded programs and services. See

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Edmiston, Kelly (2010). "The Role of Small and Large Businesses in Economic Development".

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has been used as a major tool by small businesses in the UK, but most of them just use a "

757: 717:. This is often a result of poor planning rather than economic conditions. It is a common 605: 330: 278: 242: 194: 2820: 2864: 2605:"Office of Advocacy - U.S. SBA - Characteristics of Small Business Employees and Owners" 2342:

Shailer, G. 1989, The Predictability of Small Enterprise Failures: Evidence and Issues,

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directories, television, radio, and outdoor ads (e.g., roadside billboards), print ads,

784:, small business owners tend to be more concerned with perceived excessive governmental 3031: 2997: 2841: 2788: 1239: 1215: 1067: 1000: 968: 846: 777: 667: 349: 282: 182: 138: 70: 2698: 1602: 3167: 3102: 2880: 2186: 1568: 1473: 1439: 1363: 1203: 1082: 953: 933: 862: 827: 796: 749: 734: 718: 694: 542: 321: 114: 98: 1942: 1866:

Longenecker, Justin G.; Carlos W. Moore; J. William Petty; Leslie E. Palich (2008).

1106:– It is preferable to keep promotion expenses as low as possible. ‘Word of mouth’, ‘ 17: 2554: 2527: 1429: 1424: 1258: 1210: 1075: 1020: 988:

websites that are frequented by potential customers can be effective, but with the

985: 937: 819: 742: 722: 601: 568: 567:

stores, hardware stores, and pharmacies to participate in retailers' cooperatives.

386: 205: 158: 106: 94: 2102: 516:

Some definitions are multi-parameter, e.g., by industry, revenue, or market share.

3088:

Schaper, Michael T. "A brief history of small business in Australia, 1970-2010."

2637: 2082: 2038:

FRS 105: The Financial Reporting Standard applicable to the Micro-entities Regime

1136:

comes in as the second, and those with twenty or more but fewer than one hundred

976:

social marketing agencies that they can hire out for a small fee. Statistically,

600:. One of the claimed advantages of small business owners is the ability to serve 1991: 1235: 1223: 1012: 901: 622: 588: 538: 146: 134: 55: 51: 3011:

Job Creation in America, How our smallest companies put the most people to work

2528:

The Small Business Economy - A Report to the President: 2001 pg. 84 - Table A.3

1798: 1098:

should be flexible and based on the different stages of the product life cycle.

2923:"Small businesses need to see exporting as a viable option and 'think global'" 2132: 1400: 981: 929: 823: 738: 710: 660: 572: 306: 174: 162: 150: 142: 2178: 1889: 1610: 63:

industry. Small businesses range from fifteen employees under the Australian

3137:

Blackford, Mansel G. "Small business in America: A historiographic survey."

2984:

The economics and management of small business: an international perspective

2611: 1927:

Comparable and clear company financial statements across the EU: Summary of

1334:

that larger businesses benefit from, such as the opportunity to buy cheaper

1165: 1044:

and/or by using a back-link strategy wherein the marketer comments on other

1004: 989: 781: 765: 753: 663:

and financial reporting requirements than those faced by larger businesses.

618: 361: 130: 118: 2148:"Targeted networking and social media: how to win new business efficiently" 1646:

Small Business Size Standards: A Historical Analysis of Contemporary Issues

1644: 1404: 956:. These Internet deals encourage customers to patronize small businesses. 221:

Concepts of small business, self-employment, entrepreneurship, and startup

161:, very small-scale manufacturing, and Internet-related businesses such as 2317:"How To Deal With Bankruptcy as a Small Business Owner - LawNow Magazine" 1868:

Small business management: launching and growing entrepreneurial ventures

1390: 1356: 1296: 1137: 1133: 1129: 1033: 1024: 999:

Creating a business website has become increasingly affordable with many

785: 615: 190: 122: 90: 41: 3041: 2663:

United States. Congress. House. Committee on Financial Services (2010).

2341: 1853:"THE COMPETITIVE DISADVANTAGE OF SMALL BUSINESS OF TWENTY FIRST CENTURY" 1837: 1560: 1318: 1157: 1028: 1016: 949: 857:

Small businesses can encounter several problems related to engaging in

800: 688: 266: 250: 178: 126: 1281:

assists in the development of small businesses owned and operated by

1008: 597: 396:

The following table serves as a guide to business size nomenclature.

302: 237:. Galleries tend to form clusters of small business owners over time. 170: 154: 110: 102: 82: 37: 2807: 1829: 967:

Many small business owners find internet marketing more affordable.

1290:

Federal financing for small businesses in Canada (grants and loans)

2103:

Shailer, G. Capitalists and Entrepreneurs in Owner-managed Firms.

1300: 1151: 1045: 1037: 958: 792: 730: 593: 587: 314: 298: 234: 230: 224: 204: 31: 2580:"Small Business Facts: Small Business Job Creation Deconstructed" 73:, and fewer than five hundred employees to qualify for many U.S. 3154:, the official website for business-related activities in the US 2727: 2201:"Profitable Tactics Using Internet Marketing For Small Business" 1246: 1243: 1220:

Loans from banks, credit unions, or other financial institutions

1190: 1041: 2267:"Advantages & Disadvantages of Companies Filing Bankruptcy" 374:

uses less than 20 employees as its threshold. By comparison, a

1700:

Revision of the EU SME Definition: Inception Impact Assessment

1382: 803:

of dollars in small business contracts to large corporations.

773: 769: 2900:, Special, January 15, 1980, Business & Finance, Page D1" 1343:

These organizations include local or regional groups such as

1199:

Grants from private foundations, government, or other sources

3151: 2894:

STEVE LOHR Special to The New York Times (15 January 1980).

2292:"Can I Keep My Business If I File for Chapter 7 Bankruptcy?" 1178:

Small businesses use various sources available for start-up

752:, some of the largest concerns of small business owners are 2863:

Street, Christopher T.; Cameron, Ann-Frances (April 2007).

1273:'s Small Business and Self-Employed One-Stop Resource. The 1110:’, ‘print-ads’ in local newspapers, etc. can be effective. 269:: a new organization created to grow (and have employees). 169:. Some professionals operate as small businesses, such as 69:, fifty employees according to the definition used by the 3157: 1671:

Small Business Health Care Tax Credit for Small Employers

1339:

how changes in these relationships affect the businesses

2395: 2393: 2391: 795:

has been an ongoing problem for small businesses in the

3028:

Small business and the rebirth of enterprise in Britain

2808:

Bulgarian Small and Medium Enterprises Promotion Agency

963:

Example of keyword analysis based on market competition

936:" promotion by existing customers, customer referrals, 309:(balance sheet), alone or as a combination of factors. 3066:

Lowrey, Ying. "Minority entrepreneurship in the USA."

1760:"The Surprising Demographics of Small Business Owners" 393:

Small businesses usually do not dominate their field.

81:

Small businesses in many countries include service or

2670:. U.S. Government Printing Office. pp. 195–196. 2381: 2379: 2377: 2366: 2364: 2362: 1956:"Future of financial reporting in the UK and Ireland" 1582:

n. Berger, Allen; f. Udell, Gregory (1 August 1998).

2767:"Small Business and Self-Employed One-Stop Resource" 2639:

The Rational Guide to Building Small Business Credit

2014:, published 12 April 2017, accessed 10 February 2023 513:

Most cells reflect sizes not defined in legislation.

3068:

International Journal of Business and Globalisation

3006:

of the U.S. Department of Commerce, Washington D.C.

1932:, published 17 January 2017, accessed 13 April 2021 1234:Some small businesses are further financed through 1132:, and those with ten or more but fewer than twenty 679:). Until 2015, companies deemed small under the UK 1196:Loans or financial gifts from friends or relatives 1186:Self-financing by the owner through cash savings, 370:as one with fewer than 15 employees, although the 3036:Dicke, Thomas S. "The small business tradition." 2429:"4 Ways Cyber Crime Can Hurt Your Small Business" 1362:The largest regional small business group in the 1230:, given sufficiently sound business venture plans 677:Financial Reporting Standard for Smaller Entities 1652:. Washington, DC: Congressional Research Service 745:or price increases often resolve this problem. 2051:"Surveying Businesses on Tax Compliance Costs" 3160:, UK-based resource for small business owners 3090:Journal of Entrepreneurship and Public Policy 2040:, published March 2018, accessed 6 April 2021 659:Small businesses benefit from less extensive 8: 697:and balance sheet notes are to be disclosed. 3098:"Small-Biz Snapshot: Women-owned Companies" 2972:(Institute of International Studies, 1996). 1903:Walczak, D.; Voss, G. (30 September 2013). 1469:National Federation of Independent Business 2346:, Vol.7, No. 4, July-September, pp. 54-58. 335:Patient Protection and Affordable Care Act 3059:Hillstrom, K., and L. C. Hillstrom, eds. 2642:. Mann Publishing Group. pp. 73–74. 1257:and Tanya Prive founded the first equity 1226:, including collateral-based lending and 984:in their website content. Advertising on 2742:"Crowdfunding comes to small businesses" 2356:A list of examples is available at ICSB. 1909:Mediterranean Journal of Social Sciences 1533:K. Hillstrom, and L. C. Hillstrom, eds. 404: 36:Small businesses on Dalrymple Street in 27:Business with fewer employees or revenue 2947:American Business BSA Merit Badge Guide 2454:"Topic: U.S. companies and cyber crime" 1803:Nebraska Cooperative Development Center 1526: 1381:Several youth organizations, including 1193:on his or her home, and or other assets 3018:A history of small business in America 2083:"Small Business: The Art Of The Start" 1681: 1679: 1420:American Independent Business Alliance 1066:(done online or with directories) and 562:is a type of cooperative that employs 2996:(University Press of Kentucky, 2014) 2012:New Small Company Filing Requirements 1793: 1791: 1789: 1754: 1752: 1326:Business networks and advocacy groups 382:has fewer than two hundred employees. 364:, a small business is defined by the 7: 3127:(Manchester University Press, 1995). 2968:Aoyama, Yuko, and Michael B. Teitz. 2869:Journal of Small Business Management 2344:International Small Business Journal 2167:International Small Business Journal 2105:International Small Business Journal 1643:Dilger, Robert Jay (17 April 2018). 3125:British business history, 1720-1994 3004:Economic Development Administration 2025:Accounts advice for small companies 1734:Small Businesses joined by Facebook 2921:Senior, Norah (18 November 2013). 2121:Journal of Strategy and Management 1711:Banking Association South Africa, 1489:Small Business Innovation Research 333:under the health care reform bill 25: 2242:"What Is Corporate Bankruptcy? -" 1851:Chowdhury, Sanjib; Overby, John. 1805:. University of Nebraska-Lincoln. 1279:8(a) Business Development Program 1070:. This gives an insight into the 2881:10.1111/j.1540-627X.2007.00211.x 2216:"3 Types of Business Bankruptcy" 2146:Coleman, A. (27 November 2013). 1591:Journal of Banking & Finance 1403: 241:The concepts of small business, 3026:Conservative Political Centre. 2411:Small Business Research Summary 1623:Small Business Administration. 859:corporate social responsibility 372:Australian Bureau of Statistics 3061:Encyclopedia of Small Business 2240:Backman, Maurie (4 May 2019). 1535:Encyclopedia of Small Business 1510:Small-scale project management 1435:Federation of Small Businesses 1368:Council of Smaller Enterprises 1349:independent business alliances 1: 2819:Small Business Commissioner, 2036:Financial Reporting Council, 1603:10.1016/S0378-4266(98)00038-7 1479:Small Business Administration 1445:Independent telephone company 1411:Business and economics portal 1275:Small Business Administration 889:Small Business Administration 881:Small Business Administration 345:has fewer than 500 employees. 326:Small Business Administration 75:Small Business Administration 3158:Federation of Small Business 3063:(Gale, 2 vol. 2nd ed. 2002). 2810:, accessed on 20 August 2024 2769:. Irs.gov. 26 September 2010 2107:12(3) April-June 1994: 33–41 1965:. April 2011. Archived from 1537:(Gale, 2 vol. 2nd ed. 2002). 584:Advantages and disadvantages 3040:11.1 (1996): 11–16. in USA 1484:Small Business Commissioner 1308:Small Business Commissioner 1306:In the United Kingdom, the 1123:Contribution to the economy 3215: 3096:Staff (17 November 2011), 2480:Business for Higher Awards 2271:yourbusiness.azcentral.com 2220:The Balance Small Business 1722:, accessed 18 October 2017 1702:, accessed 18 October 2017 1454:transnational corporations 1171: 899: 553: 3075:Small Enterprise Research 3020:(UNC Press Books, 2003). 2789:8(a) Business Development 2133:10.1108/JSMA-06-2012-0034 1818:Southern Economic Journal 1713:Small Business Definition 1285:, Hispanics, and Asians. 402:(by number of employees) 400:Business size definitions 301:(turnover), the value of 211:Central Zone of São Paulo 2977:Small Business Economics 2952:6 September 2015 at the 2823:, accessed 13 April 2021 2636:Barbara Weltman (2007). 2179:10.1177/0266242606067275 2027:, accessed 13 April 2021 1994:, accessed 6 April 2021 1945:, accessed 13 April 2021 1689:accessed 18 October 2017 1505:Small office/home office 1271:Internal Revenue Service 1174:Small business financing 1115:Channels of distribution 263:: all new organizations. 209:Small businesses in the 3139:Business History Review 3038:OAH Magazine of History 3013:(The Free Press, 1987). 2533:10 October 2010 at the 2505:Principles of Marketing 2503:Kotler, Philip (2007). 2478:Needham, David (1999). 2296:smallbusiness.chron.com 1799:"Types of Cooperatives" 1718:5 December 2018 at the 1495:Small business software 973:Yahoo! Search Marketing 3199:Management occupations 1998:17 August 2021 at the 1169: 978:social media marketing 964: 877:Secondary labor market 610: 560:retailers' cooperative 554:Retailers' cooperative 238: 229:Portici di Sottoripa, 213: 44: 3085:37.5 (2011): 651-671. 3077:23.3 (2016): 239–261. 3016:Blackford, Mansel G. 2979:12.3 (1999): 217–231. 2724:"Equity Crowdfunding" 1685:European Commission, 1459:Market capitalization 1155: 962: 853:Social responsibility 591: 376:medium-sized business 355:medium-sized business 339:medium-sized business 228: 208: 35: 3189:Business occupations 3070:1.2 (2007): 176–221. 2902:. Select.nytimes.com 2794:23 June 2014 at the 1737:. Steve Kaplan. 2014 1345:Chambers of Commerce 1156:Small businesses in 1103:Promotion techniques 715:under capitalization 534:Franchise businesses 167:computer programming 60:sole proprietorships 18:Small business owner 2730:on 8 November 2013. 2617:on 16 November 2010 2214:Peavler, Rosemary. 1764:Small Business Labs 1630:29 May 2014 at the 1500:Small is Profitable 1450:Localism (politics) 926:Chamber of Commerce 922:business networking 844:personal bankruptcy 816:Business networking 655:Financial reporting 337:. By comparison, a 85:operations such as 3141:65.1 (1991): 1-26. 3120:(NYU Press, 2009). 3083:Critical Sociology 2986:(Routledge, 2004). 2898:The New York Times 2704:on 28 January 2013 2560:on 3 December 2010 2063:on 12 January 2012 2010:Barnes Roffe LLP, 1990:Barnes Roffe LLP, 1972:on 12 January 2014 1561:10.1007/BF01531920 1387:Junior Achievement 1332:economies of scale 1265:Government support 1255:Alejandro Cremades 1170: 1162:Central Queensland 1148:Sources of funding 1091:Product life cycle 965: 946:Internet marketing 681:Companies Act 2006 611: 592:Small business in 564:economies of scale 380:mid-sized business 367:Fair Work Act 2009 343:mid-sized business 239: 214: 87:convenience stores 66:Fair Work Act 2009 45: 3116:Weems, Robert E. 2982:Bannock, Graham. 2677:978-0-16-085864-2 2649:978-1-932577-34-1 2433:Business Know-How 2023:Companies House, 1881:978-0-324-56972-8 1870:(14th ed.). 1515:Small start units 1372:Greater Cleveland 1353:business networks 1283:African Americans 1253:In October 2010, 924:(e.g., attending 510: 509: 283:angel investments 16:(Redirected from 3206: 3194:Entrepreneurship 3152:Business.usa.gov 3123:Wilson, John F. 3113: 3112: 3110: 3056: 2992:Bean, Jonathan. 2957: 2944: 2938: 2937: 2935: 2933: 2918: 2912: 2911: 2909: 2907: 2891: 2885: 2884: 2860: 2854: 2853: 2851: 2849: 2844:on 29 April 2021 2840:. Archived from 2830: 2824: 2817: 2811: 2805: 2799: 2785: 2779: 2778: 2776: 2774: 2763: 2757: 2756: 2754: 2752: 2746:Business Insider 2738: 2732: 2731: 2726:. Archived from 2720: 2714: 2713: 2711: 2709: 2703: 2697:. Archived from 2696: 2688: 2682: 2681: 2660: 2654: 2653: 2633: 2627: 2626: 2624: 2622: 2616: 2610:. Archived from 2609: 2601: 2595: 2594: 2592: 2590: 2585:. September 2017 2584: 2576: 2570: 2569: 2567: 2565: 2559: 2553:. Archived from 2552: 2544: 2538: 2525: 2519: 2518: 2500: 2494: 2493: 2475: 2469: 2468: 2466: 2464: 2458:www.statista.com 2450: 2444: 2443: 2441: 2439: 2425: 2419: 2418: 2406: 2400: 2397: 2386: 2383: 2372: 2368: 2357: 2354: 2348: 2338: 2332: 2331: 2329: 2327: 2313: 2307: 2306: 2304: 2302: 2288: 2282: 2281: 2279: 2277: 2263: 2257: 2256: 2254: 2252: 2237: 2231: 2230: 2228: 2226: 2211: 2205: 2204: 2197: 2191: 2190: 2162: 2156: 2155: 2143: 2137: 2136: 2116: 2110: 2100: 2094: 2093: 2091: 2089: 2079: 2073: 2072: 2070: 2068: 2062: 2056:. Archived from 2055: 2047: 2041: 2034: 2028: 2021: 2015: 2008: 2002: 1992:The end of FRSSE 1988: 1982: 1981: 1979: 1977: 1971: 1960: 1952: 1946: 1941:UK Legislation, 1939: 1933: 1923: 1917: 1916: 1900: 1894: 1893: 1872:Cengage Learning 1863: 1857: 1856: 1848: 1842: 1841: 1813: 1807: 1806: 1795: 1784: 1781: 1775: 1774: 1772: 1770: 1756: 1747: 1746: 1744: 1742: 1729: 1723: 1709: 1703: 1696: 1690: 1683: 1674: 1668: 1662: 1661: 1659: 1657: 1651: 1640: 1634: 1621: 1615: 1614: 1597:(6–8): 613–673. 1588: 1579: 1573: 1572: 1544: 1538: 1531: 1464:Micro-enterprise 1413: 1408: 1407: 1336:health insurance 1096:Pricing strategy 885:retirement plans 405: 293:Size definitions 261:entrepreneurship 247:entrepreneurship 195:retirement homes 48:Small businesses 21: 3214: 3213: 3209: 3208: 3207: 3205: 3204: 3203: 3184:Business models 3164: 3163: 3148: 3134: 3108: 3106: 3095: 3049:Economic Review 3046: 2965: 2963:Further reading 2960: 2954:Wayback Machine 2945: 2941: 2931: 2929: 2920: 2919: 2915: 2905: 2903: 2893: 2892: 2888: 2862: 2861: 2857: 2847: 2845: 2832: 2831: 2827: 2818: 2814: 2806: 2802: 2796:Wayback Machine 2786: 2782: 2772: 2770: 2765: 2764: 2760: 2750: 2748: 2740: 2739: 2735: 2722: 2721: 2717: 2707: 2705: 2701: 2694: 2690: 2689: 2685: 2678: 2662: 2661: 2657: 2650: 2635: 2634: 2630: 2620: 2618: 2614: 2607: 2603: 2602: 2598: 2588: 2586: 2582: 2578: 2577: 2573: 2563: 2561: 2557: 2550: 2546: 2545: 2541: 2535:Wayback Machine 2526: 2522: 2515: 2502: 2501: 2497: 2490: 2477: 2476: 2472: 2462: 2460: 2452: 2451: 2447: 2437: 2435: 2427: 2426: 2422: 2408: 2407: 2403: 2398: 2389: 2384: 2375: 2369: 2360: 2355: 2351: 2339: 2335: 2325: 2323: 2315: 2314: 2310: 2300: 2298: 2290: 2289: 2285: 2275: 2273: 2265: 2264: 2260: 2250: 2248: 2246:The Motley Fool 2239: 2238: 2234: 2224: 2222: 2213: 2212: 2208: 2203:. 25 June 2015. 2199: 2198: 2194: 2164: 2163: 2159: 2145: 2144: 2140: 2118: 2117: 2113: 2101: 2097: 2087: 2085: 2081: 2080: 2076: 2066: 2064: 2060: 2053: 2049: 2048: 2044: 2035: 2031: 2022: 2018: 2009: 2005: 2000:Wayback Machine 1989: 1985: 1975: 1973: 1969: 1958: 1954: 1953: 1949: 1940: 1936: 1924: 1920: 1902: 1901: 1897: 1882: 1874:. p. 768. 1865: 1864: 1860: 1850: 1849: 1845: 1830:10.2307/4135311 1815: 1814: 1810: 1797: 1796: 1787: 1782: 1778: 1768: 1766: 1758: 1757: 1750: 1740: 1738: 1731: 1730: 1726: 1720:Wayback Machine 1710: 1706: 1697: 1693: 1687:What is an SME? 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