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Small Business and Entrepreneurship
Small businesses are usually family- and privately-owned establishments with a limited number of employees. Starting a small business is a form of entrepreneurship. It is like turning a ‘problem’ into a ‘profit’ or a ‘need’ into a ‘demand’.
6,973 Questions
impact on organizational profitability
Who are 10 famous filipino entrepreneurs?
10 Successful Filipino entrepreneurs are
1. Alfonso T. Yuchengco - Heads Yuchengco Group of Companies, Chairman of Rizal Commercial Banking Corporation (RCBC), Chairman of the Mapua Institute of Technology. See How to Get People to Like You
2. Alfredo M. Yao - Zest-O Corp. (Zest-O)
3. Amable R. Aguiluz V - AMA Institute of Computer Studies (AMA)
4. Axel Kornerup - Netopia Internet Café (Netopia), see How the Internet Can Make You Wealthy
5. Andrew Gotianun - runs the Filinvest Development Corporation.
6. Andrew Tan- runs the Alliance Global Group Inc. (AGI), Megaworld Corporation, Emperador Distillers, Golden Arches Development Corporation - Possesses a franchise of McDonald's
7. Ben Chan - Bench Apparels (Bench)
8. Ben Colayco - Level Up
9. Bernie H. Liu - owner of Penshoppe, See 5 Common Traits of Successful People
10. Bienvenido Tantoco, Sr - Rustans Department Stores and Supermarkets
What is a small business club?
These are association set up so that small business owners can meet and discuss issues encountered, network and get information regarding opportunities for their business type.
Problems and barriers to entrepreneurship in India?
1. Finance: National experts considered problems with finance to be one of the principal factors hindering entrepreneurship in their country and the relationship between finance and levels of entrepreneurship activity was confirmed in the data. The availability of early-stage finance, either from informal sources such as individuals or formal sources such as venture capital funds, is greater among countries that have higher levels of entrepreneurial activity.
2. Education: Education plays a vital role in entrepreneurship. The study identified that if the level of participation in post-secondary were the only factor used to predict entrepreneurial activity, it would account for 40 percent of the difference between the study countries. Providing individuals with quality entrepreneurship education was one of the top priorities identified by national experts.
3. Fundamentals: The study also argued that policies geared toward boosting entrepreneurial activity should not be confined to the entrepreneurship sector per se but also extended to the macro-economic fundamentals of the country like markets, competition and regulation. In particular, the most entrepreneurially active countries had a greater ease of doing business with the government, more flexible labor markets and lower levels of non-wage labor costs.
4. Social Legitimacy: The perceived social legitimacy of entrepreneurship was also argued to make a difference. It was found that measures such as
(a) the extent to which fear of failure acts as a deterrent to starting a new firm and
(b) respect for those starting new businesses were associated with differences in levels of entrepreneurial activity.
Caring too much for the product than the customers
A startup is a baby of an entrepreneur and it is his duty to ensure that the product has great quality to satisfy the needs of the consumers. In India, entrepreneurs are very attached to their business which makes them focus too much on the startup and the product avoiding the most important factor - 'consumers'. Indian entrepreneurs must have a balanced chart to ensure that their focus is on the startup and the customers because customers and consumers determine the future of an entrepreneur and his startup.
Indian entrepreneurs fear failure
It might be a bold statement that Indian entrepreneurs fear failure but the fact never changes. Entrepreneurs around the world have a fear on guiding their startup to the right direction but in India the scenario changes quite a bit making it more difficult for these men as they are not let to take up risk bearing responsibilities. Indian families do not encourage their youth to run their own business as it might bring in loss and such thoughts are induced into these men at a very early stage.
Too much interference in everything
An entrepreneur is an all rounder but that does not mean he gets into every activity of the business with too much concern. It would in fact be his own company but an entrepreneur must be smart enough to choose his responsibilities and priorities within an organization.
Decisions must be bold
While most entrepreneurs have the ability to make and take quick decisions Indian entrepreneurs find it a little difficult to master this skill due to various external reasons. An entrepreneur must have the courage to take bold decisions and march forward but in our country things turn out to be a little different as entrepreneurs are emotionally attached and are answerable to various emotional questions that put them in the state of dilemma.
Few Indian entrepreneurs do not have the passion
Passion is a key factor that determines an entrepreneurial journey and without this zeal an entrepreneur cannot reach his goal.
Are there preferences still in the selection of small business contracts?
Don't worry, the well hasn't run dry just yet. The short answer to your question is, yes. Businesses owned by service-disabled veterans and those in the 8(a) program still receive preferences, as do small businesses in the so-called HUBZones. However, the priorities are currently in a state of flux.
First, a few definitions might be helpful.
HUBZones are areas that meet certain demographic qualifications, such as a median household income that is less than 80 percent of the state's median household income, or an unemployment rate that is at least 140 percent greater than the statewide average. Small businesses that are located in a zone and employ people who reside in that zone qualify for HUBZone contracts (to keep the businesses alive).
A service-disabled veteran is a person who served in the active military, naval, or air service and whose disability was incurred or aggravated in the line of duty. A small business that is at least 51% owned and operated by one or more service-disabled veterans is granted this designation.
An 8(a) company is a small business that is owned by one or more socially and economically disadvantaged individuals. The Small Business Administration defines socially disadvantaged individuals as those who have been subjected to racial or ethnic prejudice or cultural bias historically. Generally speaking this includes Black Americans, Hispanic Americans, Native Americans, and Asian Pacific Americans as well as other groups designated by the SBA. Jews, despite having the longest running history of being discriminated against, are once again SOL. This is due to the determination the group composes a religion and not an ethnic group, even if you can pick out a Rahm Emanuel from the crowd.
In May, the Government Accountability Office ruled on a specific case in which a company owned by Alaskan Natives was given an Army contract and two HUBZone companies were not considered. The GAO said that the Army made a mistake in doing so and that legislation states that HUBZone companies are supposed to have priority over 8(a) companies. The ruling was challenged, but this month the GAO reaffirmed its position.
The Office of Management and Budget then instructed agencies to disregard the GAO ruling. OMB Director Peter Orszag said that GAO rulings are not binding and that White House and SBA lawyers are reviewing the decision.
Meanwhile, some lawmakers are advancing legislation that would clarify the rules. Sen. Mary Landrieu (D-LA) introduced an amendment to the defense authorization bill that would level the playing field between the three special types of small businesses. If passed, businesses in HUBZones, businesses owned by service-disabled veterans, and businesses in the 8(a) program would all have the same preference when agencies are conducting a set-aside procurement.
What do eBay consigners charge?
They usually charge money. If the item is very valuable, then it's around a lot of dollars.
Leadership, logical mindset, market knowledge, merger of all management techniques, IT orientation.
Which business sector has the most opportunity for profit for entrepreneurs?
Read the blog second online income & choose the business sector has the most opportunity for profit for entrepreneurs
If you have small business expenses but no income will you get a tax return?
You can get a tax refund (I think that's what you meant) if you paid more taxes in than you owed. So, if you had no income, you would owe no taxes and should get anything back you paid in. Of course, if you had no income, how did you pay taxes?
Small and medium enterprises in the Philippines?
small enterprise is compose of 10-99 employees
medium enterprise is compose of 100-199 employees
Refusing to work but remaining at the factory?
In other terms- its called Strick, and waiting for the solution.
even people use this tricks to encourage other people to join them.
What are the benefits of backward linkage in a business?
there is reduced dependence on imported goods since local suppliers provide the raw materials for the producers.
What is arbitrage entrepreneurship?
Arbitrage refers to the process of buying something low and selling it higher at a later point in time or at a different location. Arbitrage is possible because there are inefficiencies in the marketplace. So arbitrage entrepreneurship would be simply buying existing products low and reselling them higher at a later time or different place.
This is in contrast to other types of entrepreneurship, where the entrepreneur does not simply buy low and sell high. He or she must innovate on the product or business model to make it superior before reselling it in order to be competitive.
Discuss Five environmental factors affecting entrepreneurship?
Environmental factors affecting entrepreneurship:
1. Political environment
2. Legal environment
3. Economic environment
4. Technological environment
Advantages and disadvantages of being a small business?
Another advantage of having a small business is greater profitability
What are the managerial skills of an entrepreneur?
1. management skills like controlling,planning etc
2. speculative
3. ability to take decision
Strengths in the Hair Salon Business Plan?
The strengths in a hair salon business plan will include the measures you will take to make the business successful. The amount of money that will be needed and increased will also have to be included.
Having a proper marketing plan will be much helpful for your salon business plan. it will increase your niche customers and brand building.
Roles of front office in organization?
Front office of an organisation tends to be the main reception area. Their duties would include:
Meeting and greeting any customers coming through the front door
Operating telephone switchboard
Fielding calls for managerial staff
Filing
Maintaining records
Working with cash
Handling financial transactions
Maintaining diary for management
What is entrepreneur in Tagalog?
The word "entrepreneur" in English means "negosyante", "mangangalakal" in Tagalog.
