Professional Documents
Culture Documents
R
ë
"
criteria for small business:
ë nepenently owne an operate
(not part of a larger corporation)
ë The owners contribute most, or all, of the
operating capital (i.e. they bear the risk
an they are entitle to the profits)
V
"
criteria for small business:
ë The owners make most ecisions an are
not answerable to anyone else
(owner-managers)
ë The business has a small market share
V
R
þ
R
ë
sually only 1 or 2 owners
ë inancing proie by the owner
ë The business has limite market share
ë ften has a limite life span
ë Sometimes run on a part-time basis
ë There is a low leel of net profit
R
ë
ncertainty, ambiguity an constant
change
ë Stress
ë otential for financial loss
ë ncrease responsibilities
ë ee to be multi-skille
Î
'
ë ports
ë Specialise proucts an serices
ë Support to big business
ë ecentralisation (economic actiity in
regional areas)
!
'
#( )
ë ntrepreneur:
± iscoers/generates, ealuates an
eploits new business opportunities
± starts or grows an enterprise base on
these ieas
± as alue to society base on their
inepenent initiatie.
%
'
#( )
'