The Small Business Scene

Sidorenko_g_i_tolstouhova_v_f_ Today small businesses are the heart of the market economy. There are a great number and variety of small businesses. People become owners and operators of small business firms …

Selling on Credit

There are few axioms in the world of business, but one of them is "if you sell on credit you will increase sales, even to the same customers to whom …

ADVANTAGES AND DISADVANTAGES OF RUNNING A SMALL BUSINESS

Small firms actually have advantages over large firms in many cases. One advantage of small firms is that they often grow into large firms. Many of today's small firms will …

DISCUSSION

1) How would you explain the statement "The world operates on credit"? 2) What kind of policy would you establish to handle delinquent accounts'? Why?

WORD STUDY

1. Match the words with their definitions. EFFICIENCY, FACILITIES, DEMAND, COSTS, EXPANSION, OVERHEADS, CONSUMERISM, REWARD, GOODWILL, TAX 1) A need for or a desire for a commodity, together with the …

Risks and How to Deal with Them

Risk can be defined as the chance of damage, injury, or loss. Every business firm operates with daily risks, and the small firm is no exception. The small firm is …

Financial Statements

Good record keeping by a business is not only wise, but is required by many laws. Legal and financial questions may be raised by various agencies, banks, and employees. These …

Managing people

If the small business entrepreneur is going to have a growing and successful business, that person must understand how to manage one of the business's most important resources, people. The …

GRAMMAR FOCUS

4. Complete the following sentences by pulling the bracketed verb into the right tense 1) Inflation (increase) steadily this year. 2) Unemployment (peak) last year and since then (go) down. …

Franchising

Good planning, financing and management are essential to any type of small firm. This is true whether the firm is a franchisee1, a newly created firm, or an established firm …

A Comprehensive Plan

Chances of success for any new business are greatly increased when attention is first directed to a comprehensive business plan. A complete business plan provides a total visualization of the …

Small Business and the Law

Understanding business law takes many years. No one expects a small business owner to get a law degree or to have a complete understanding of legal concepts related to business …

Surveying the Market

It is very important to have the facts about how many potential buyers are in your projected Sales area1 And to know their needs and wishes before you invest. It …

Choosing a legal form of organization

New firm planners do some serious thinking about what legal form to choose for their new endeavor1. This means determining what the status of the business will be in the …

. Sources of Financing for New Small Firms

The capital of a business consists of those funds used to start and run the business. The funds may be either the owner's (equity capital1) or creditor's (debt capital2). Capital …

Advertising and promotion

The total demand for the goods or services offered by any small firm can be divided into established demand1 and newly created demand, sometimes called promoted demand2. Established demand is …

Pricing Policies

FACTORS AFFECTING INDIVIDUAL PRICES. The prices that any firm can charge for its merchandise are subject to many influences. Some or all of the following considerations may apply in a …