17-] The Role Of Small
Businesses .
There are many benefits of the small businesses for their owners . Small business owners learn to be risk takers and innovators . Corporate employees on the other hand too often interpret their prime directive as keeping their jobs . Risk taking can get in the way of career building .Where as large corporations can be adverse to change , small businesses know that their ability to make rapid decisions and implement course corrections is their key to success . In the ocean of business mega-corporations turn like tankers , while small businesses can zip around them with the agility of a speed boat .
The small business person must deliver top customer service and have a passion for excellence , a willingness to dream and create the freedom to make timely decisions to succeed and enlarge .
The Small Business Administration in the US was established in 1953 to support small businesses by offering financial and counseling assistance and ensuring that small businesses can compete against large companies in receiving government contracts . Since it was established , it has granted some for of aid to almost 20 million small businesses . In 2003 it offered 219.000 loans worth approximately $ 45 billion . In 2001 there were more than 2.697.000 American companies that employed fewer than four workers . In 2003 53% of small businesses in the US were home based . The US small Business Administration says that small businesses create two of every three new jobs , produce 39% of the gross national product and invent more than half of the nation’s technological innovation . This reflects the important role of small businesses in the largest economy in the world .
Small business is not a synonym for small earnings . In fact , many small businesses are extremely profitable . Their advantages of leanness , maneuverability , innovation and customer focus mold them into steady enterprises that earn a significant return on investment year after year .
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