{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

9:29:10 - • Small Business Failure o 1 in 3 businesses...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Intro to Business 30/09/2010 19:42:00 Options for Organizing Small and Large Businesses Small Business Facts o 90% of firms with employees have fewer than 20 people on staff o More than 20 million people in the United States earn business income  without employees o Small Businesses generate 60%-80% of new jobs over the last decade o Launching pad for entrepreneurs and prevalence of minorities Small Business Administration defines a small business to be a firm that is  independently owned and operated and is not dominant in the field o Manufacturing business: fewer than 500 workers o Wholesalers: fewer than 100 workers o Retailers: les than $6million in annual sales o Agricultural business: less than $750,000 Small Business size ranges from $500,000 to $25million in sales and from  100 to 1500 employees
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: • Small Business Failure o 1 in 3 businesses closes permanently within two years o 50% of businesses fail after four years o More than 60% of business fail within six years o BY the 10-year mark, 82% of all small businesses have closed permanently • Creating a Business Plan o Written documentation that provides orderly statement of goals, methods, and purpose • Small Business Administration o Government agency concerned with helping small business firms • Set-aside Programs o Government Contracts 5%for women and minorities o Assistance in Financing Government Procurement • Business Incubators o Local community initiatives to share resources for small start-ups The University of Tennessee • 30/09/2010 19:42:00 ← 30/09/2010 19:42:00 ←...
View Full Document

{[ snackBarMessage ]}

Page1 / 3

9:29:10 - • Small Business Failure o 1 in 3 businesses...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online