Contributor: Mr. Panache
When people venture into the various businesses, especially with experience, they get to realise that the world of business is not always well receptive to new entries and participants.
People are not told facts such as that every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.Each type or form of ownership in terms of a business has different legal implications and can also yield the different results.
Relevance of Small Businesses
When looking at the country as a whole, it appears that there are widely dispersed small and large communities with relatively adequate local and regional
markets dominating the various townships and suburbs.
With the different forms of ownership in today's economy and the most common form of business organization being Private and Public Companies, including NPOs; if these businesses are developed with practicalities then they will be well capacited to serve these markets. These small businesses can be positioned to compete, meet deliveries and make honest contribution to the economic diversity of small communities.
Owing much to the economic education, entrepreneurship as a topic must continue to be explored theoritically and practically from a multidisciplinary perspective. These explorations can really help participants have proper understanding of the different contributions made by small businesses to entrepreneurship development and the entire economy.