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Tuesday, January 18, 2011

Importance, advantages and disadavantages of Small Businesses

Small Businesses
* Small businesses employees majority of the workforce in any country.
* Every business starts small.

* Small businesses are flexible and respond easily to changes in demand.
* Small firms often cater to local demands.
* In difficult economic times, such as a recession, small business can be an important source of providing employment.
* Small firms provide competition to larger firms through providing customized goods and services.
* Small firms provide niche products and services which a larger firm might oversee.
* Under capitalisation
* Poor debt management
* Lack of managerial skills of the owner
* Cannot retain experienced staff
* Usually find it difficult to attract skilled staff
* Poor stock management
----waiting for expansion----help me

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