Introduction to small business
Small business refers to a set of firms belonging to a certain size that fall under a
particular category in terms of number of employees, total value asses, annual turnover
etc. These categories vary from country to country.
There are various reasons for you to start a small business. Few of those can be that you
would like to spend more time with family than spend time in the traffic rushing to
office, you might not like the 9-6 working hours pattern and like to do things your way,
you might also not like the whole office environment: colleagues, meetings, deadlines
etc. It could also be that you like to challenge yourself with the thrill of profits and also
the losses that the business provides.
To become a small business owner you must be disciplined, driven and be able to
recognize what the customers want. There are a variety of challenges that you might face
as a small business owner. You must be ready to face the challenges and see success. You
should understand that business comes with great amount of paper work that includes
keeping track of the licenses and permits in the beginning of the business, investment
and expenditure in the beginning, the budget and the taxes after the establishment of
your small business.
No matter what the reason is once you have decided to start a small business it is up to
you to take the rest of the decisions regarding it.
Making a decision regarding which small business that you need to start is the most
nerve wracking challenge. But once that decision has been made there are several other
factors that have to be considered to excel in small business.