Small Business Enterprise
ACKNOWLEDGEMENT
First of all I want to thank the Almighty Allah for giving me life and strength to finish this assignment on time. I want to thank my family for supporting me through this major task and providing me with all the resources needed. I love you guys. I want to especially thank my friends who have one way or the other helped me in completing this assignment. Thanks to my fellow colleague Seedy Mohamed Ceesay for your constant help and encouragement. Finally I owe a big thank you to my lecturer Mr Amara. Keep up the good job of trying to make us understand.
INTRODUCTION
A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The legal definition of "small" varies by country and by industry, ranging from fewer than 15 employees under the Australian Fair Work Act 2009, 50 employees in the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. Small businesses can also be classified according to other methods such as sales, assets, or net profits.
Small businesses are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, guest houses, photographers, small-scale manufacturing, and online business, such as web design and programming, etc.
Why do people start a small business? Some want to spend more time with family, and starting a business allows them to do that. Some find it exhausting to be outside the house all day, dealing with traffic, co-workers, meetings and interruptions. Some people hate answering to a boss all the time- needing permission to schedule a dentist appointment or take the day off when they're sick. Some people are
First of all I want to thank the Almighty Allah for giving me life and strength to finish this assignment on time. I want to thank my family for supporting me through this major task and providing me with all the resources needed. I love you guys. I want to especially thank my friends who have one way or the other helped me in completing this assignment. Thanks to my fellow colleague Seedy Mohamed Ceesay for your constant help and encouragement. Finally I owe a big thank you to my lecturer Mr Amara. Keep up the good job of trying to make us understand.
INTRODUCTION
A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The legal definition of "small" varies by country and by industry, ranging from fewer than 15 employees under the Australian Fair Work Act 2009, 50 employees in the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. Small businesses can also be classified according to other methods such as sales, assets, or net profits.
Small businesses are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, guest houses, photographers, small-scale manufacturing, and online business, such as web design and programming, etc.
Why do people start a small business? Some want to spend more time with family, and starting a business allows them to do that. Some find it exhausting to be outside the house all day, dealing with traffic, co-workers, meetings and interruptions. Some people hate answering to a boss all the time- needing permission to schedule a dentist appointment or take the day off when they're sick. Some people are