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Management 14th Edition by Leslie Rue,Lloyd Byars ,Nabil Ibrahim
Edition 14ISBN: 978-0078029110Management 14th Edition by Leslie Rue,Lloyd Byars ,Nabil Ibrahim
Edition 14ISBN: 978-0078029110 Exercise 2
What is a small business?
Explanation
Verified
Verified
If a business has to be successful, then they have to compete with larger companies and other small scale companies. In US economy, ninety eight percent of industry is small scale business.
A small business is an organization which is owned and functioned independently. The small business need not to be a leading company in their field. They will have only fewer employees that are less than hundred employees. If the annual revenue, sales and asset are less, then they are also classified under small business. Some examples for small businesses are grocery stores, bakeries, small restaurants, guest houses and small scale industrial units. When considering large businesses, the small scale business have more innovations. Most of the highly skilled organizations are started as small business. Examples are Microsoft and Apple.
A small business is an organization which is owned and functioned independently. The small business need not to be a leading company in their field. They will have only fewer employees that are less than hundred employees. If the annual revenue, sales and asset are less, then they are also classified under small business. Some examples for small businesses are grocery stores, bakeries, small restaurants, guest houses and small scale industrial units. When considering large businesses, the small scale business have more innovations. Most of the highly skilled organizations are started as small business. Examples are Microsoft and Apple.
Management 14th Edition by Leslie Rue,Lloyd Byars ,Nabil Ibrahim
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