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Establishing a small business

Is customers and vendores that have interest in your firms survival. What I think is the best type of finance source would be grants which you don't have to pay back.
             Finance sources have many advantages and disadvantages that's why a business plan would be useful in helping decided what kind of finance source you mite want to use. Grants to me are the best it's free money used to start/expand your business and improve your business. In ways such as bring new technology making communications go much faster and providing more profits. The only disadvantage would be to apply for a grant mite take time you must write letters to impress others by showing your plans and ways of improvement. Savings has a great advantage because you can always access your funds. Disadvantage would be not having all the funds needed. Friends and Relatives source advantage would be that when repaying your payments they would probably more flexible that repaying a stranger. Disadvantage would be that because relative they mite take advantage and forget or not pay back soon. Credit Union Banks often have lowest interest rates than regular banks. There are different advantages in bank. A commercial bank mite have more experience and be more familiar in business loans but sometimes not be able to provide you with the loan amount you wish. On the other hand community bank mite not have so much experience with business loans to be able to help you but, they will be more likely to provide you with the loan you wish if they know you and your ability in repaying the loan.
             The legal issues with which entrepreneurs and small business owners are likely to be faced. Are like laws placed for employees such as Rest and meal times regulation. Another one like travel time which means that companies must pay employees travel time. There are many enviormental laws which must all be taken into consideration and looked up because you wouldn't want to break one of these.


Essays Related to Establishing a small business

1. Measurements of a Small Business

Abstract The major focus of this study was defining small businesses and determining standards that can be used when establishing a small business. ... Small Business Administration. ... In the United States the Small Business Administration establishes small business size standards on an industry-by-industry basis, but usually stipulates a small business as having fewer than 250 workers for developed businesses and fewer than $7 million in yearly receipts for most non –manufacturing businesses. ... The purpose of this study is to provide key material concerning small businesses and the...

  • Word Count: 2644
  • Approx Pages: 11

2. Small Business Establishment, Development, and Management

Small businesses key to success is the implementation of a plan. ... (Small Business Association [SBA], p. 1) The development of a business plan is critical for outside funding agencies. The business plan is a resume for a small business. There are various funding sources available to small businesses. ... (p. 43 para. 1) The legal aspect of business is just a small portion of the overall picture of a business. ...

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3. Small Businesses and Entrepreneurship

To answer this challenging question, one must compare both entrepreneurs to small business managers or owners and entrepreneurial ventures to small businesses. One must also ascertain the meanings of the terms, entrepreneur and small business owner. ... Under this definition, a small business owner could definitely be classed as an entrepreneur, as anyone who runs and owns their own business is taking risks with their finances every day of trading. ... By this, he meant that an entrepreneur goes about their business and becomes successful by creating new ways of carrying out established proces...

  • Word Count: 624
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4. The HUBZone Empowerment Contracting Program

The HUBZone Empowerment Contracting Program's intent is to stimulate economic development and employment in urban and rural communities by establishing contracting preference standards and employment opportunities for small business concerns that are located in and persons that reside in "historically underutilized business zones" better known as "HUBZones". Small business concerns will have the opportunity to negotiate sole source contracts and participate in restricted competition limited to small business concerns in the program. ... This means that offers of HUBZone small business c...

  • Word Count: 805
  • Approx Pages: 3
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5. Family Business Succession Guide

To define the meaning of family business, will be used the following definition: "a family business is a business governed and/or managed with the intention to shape and pursue the vision of the business held by a dominant coalition controlled by members of the same family or a small number of families in a manner that is potentially sustainable across generations of the family or families" (Massis, Chua, and Chrisman). ... The company establishes goals and objectives, which means they develop a collective vision, goals and objectives for the business. ... The organization establishes a d...

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6. Business

Introduction to Business Business plays a major role within our society. ... This business cycle explains how business fluctuates from high to low prosperity, recession, depression and recovery over time. ... A businesses environment creates many opportunities as well as problems for prospering businesses. ... When a business learns to adapt to these changes, it will be profitable for both the business and consumers. ... They are often expensive to establish and complex to run because they are strictly regulated by the government. ...

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7. Small Firm Use Of Leverage

Abstract Prior research and anecdotal evidence suggests that women-owned small businesses use less debt than men. ... A number of studies have compared the capital structures of small businesses to those of larger firms to demonstrate small business' dependence on debt financing. ... As a further consideration, small businesses are more prone to financial distress and failure. ... Small Business Administration. ... Over four thousand small businesses were interviewed by telephone. ...

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8. EU Single Market and International Business

International business development The active development of international businesses begun in early 90th, at the same time when EU finally established Single Market. ... Most of all can benefit the small international businesses or the one which are aiming the international market. EU Single Market stimulated competition therefore the prices lowered and many small companies established. ... Direct example is when an international business establishes its production in one European country but distributes it all over Europe. ... Therefore development of production inside the EU is very unstabl...

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9. Current Career - Coffee Shop

Small Business Administration, "there are approximately 25 million small businesses in (this) country."" This accounts for a large number of jobs in our economy, and without small business, which accounts for nearly one half of our country's employment, we would lose a huge portion of our trade and industry (NASE, 2003, Small Business as the Engine of Economic Growth, 1 and 2). ... As stated on the NASE web site: (NASE, 2003, The Mainstreaming of Entrepreneurism and Small Business, 3). ... The business I joined was already established; the menu already in place, and the food excellent,...

  • Word Count: 1541
  • Approx Pages: 6
  • Grade Level: High School

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