Small Business Management

Small businesses have the ability to better connect with the __________ since many customers are suspicious of big business.

A privately, independently owned, managed, and operated for profit

• Business

• Business Idea

• Business Plan

• Small Business

There is no hierarchical boundary in levels of management or decision

• Customer Focus

• Control

• Effectiveness

• Funding

this is mainly from personal savings, relatives at the initial stages and some secured credit later if the business is growing.

• Finance

• Financial Management

• Funding

• Financial

Small businesses provide employment to people who want to work near their homes and to spend time with their families.

• Advantage

• Disadvantage

Listening to feedback from customers is important in any business

• Customer Focus

• Customer Idea

• Customer Knowledge

• Control

essential in a factor in the beginning a life of a new business

• Finance

• Flexible

• Funding

• Adaptation

Management of the assets and liabilities of the business is not a difficult task.

• Advantage

• Disadvantage

Small Businesses are not the backbone of the economy.

• True

• False

Small businesses do not have economies of scale, the ability to cut costs by increasing production.

• Advantage

• Disadvantage