The Adbantages and Disadvantages of Small Businesses Essay Example
Advantages and disadvantages of small businesses
Perfect for those who want to do business without taking a lot of risks, small businesses are also for those people who are unemployed, or who want to spend quality time with their family.
Since small businesses are trade mechanisms which are run on a low budget, they are extremely advantageous for people who want to earn a decent earning by operating an inexpensive business which they can afford. However there are some disadvantages of small businesses as well. Some of the advantages and disadvantage of small businesses include: * One of the major advantages of small businesses is that the investment for running the business is not a major issue. Small business grants, financial aid and economic support is readily available to persons owing a small scale business. These grants are issued to business owners from government run programs to banks and other big business corporations. In fact there are several industries that are willing to provide small business grants. Due to this a person can start his own small scale business by applying for loans and/or credits via a hassle free process. * The disadvantage of a small business is that since it is run on a low budget, it requires tremendous marketing and the planning and implementation of proper strategies. The improper handling of loans or investments can often lead to the downfall of a small business very quickly. It is very necessary that all the planning of a small business is firmly kept in mind when a person opts to start a small business. * Another advantage of small businesses is that it is very easy to record business transactions. Keeping track of business dealings in a small business can be easily maintained and updated regularly. A business owner can setup an accounting system on his PC and store all the transactions that the business makes. Most accounting responsibilities in a small business are easily manageable, however a qualified
Perfect for those who want to do business without taking a lot of risks, small businesses are also for those people who are unemployed, or who want to spend quality time with their family.
Since small businesses are trade mechanisms which are run on a low budget, they are extremely advantageous for people who want to earn a decent earning by operating an inexpensive business which they can afford. However there are some disadvantages of small businesses as well. Some of the advantages and disadvantage of small businesses include: * One of the major advantages of small businesses is that the investment for running the business is not a major issue. Small business grants, financial aid and economic support is readily available to persons owing a small scale business. These grants are issued to business owners from government run programs to banks and other big business corporations. In fact there are several industries that are willing to provide small business grants. Due to this a person can start his own small scale business by applying for loans and/or credits via a hassle free process. * The disadvantage of a small business is that since it is run on a low budget, it requires tremendous marketing and the planning and implementation of proper strategies. The improper handling of loans or investments can often lead to the downfall of a small business very quickly. It is very necessary that all the planning of a small business is firmly kept in mind when a person opts to start a small business. * Another advantage of small businesses is that it is very easy to record business transactions. Keeping track of business dealings in a small business can be easily maintained and updated regularly. A business owner can setup an accounting system on his PC and store all the transactions that the business makes. Most accounting responsibilities in a small business are easily manageable, however a qualified