Date of Award
The purpose of my paper is to inform you of the personal risks involved, to show the advantages and disadvantages, and give a better understanding of small business and its problems.
Small business is a combination of social values, a pattern of civic life, a free society, and a healthy competitive community. It is the small businessman who is the foundation of the hometown's growth and development.
The best definition of a small business is defined by the Committee for Economic Development.
1. Management independent. Usually the managers are the owners.
2. Capital is supplied and ownership held by an individual or a small group.
3. Area of operations is mainly local. Workers and owners are in one home community. Markets need not be local.
4. Relative size within the industry. The business is small when compared to the biggest units in its field.
Womack, Doris, "How to Organize a Small Business" (1970). Honors Theses. 361.