Describe the advantages and disadvantages of operating a small business.
The advantages of smallness in business include the opportunity to establish personal relationships with customers and employees, the ability to adapt to changes quickly, independence, and simplified record keeping.
The major disadvantages are the high risk of failure, the limited potential for growth, and the limited ability to raise capital.
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Small Business
- Analyze the growth of franchising and its advantages and disadvantages ?
- Explain the concept and types of franchising.
- Explain how the Small Business Administration helps small businesses.
- Assess the contributions of small businesses to our economy.
- Identify the people who start small businesses and the reasons why some succeed and many fail.
- Define what a small business is and recognize the fields in which small businesses are concentrated.
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.