The Survival Of The Small Firms

Owning a small business can be a fulfilling and financially rewarding experience, but to be successful, you must know what to do before starting a business; what to do while the business is up and running; and, most importantly, what to do when the business runs into trouble. With a combined fifty years of small business experience between them, authors Barbara Weltman and Jerry Silberman know what it takes to make it in this competitive environment, and in Small Business Survival Book, they show you how. In a clear and concise voice, Weltman and Silberman reveal twelve surefire ways to help your small business survive and thrive in today's market. With this book as your guide, you'll discover how to: * Delegate effectively * Monitor cash flow * Extend credit and stay on top of collections * Build and maintain credit and restructure your debt * Meet your tax obligations * Grow your business with successful marketing strategies * Use legal protections * Plan for catastrophe and disaster recovery Whether you're considering starting a new business or looking to improve your current venture, Small Business Survival Book has what you need to succeed.

Running a small business provides opportunity for greater success, increased growth, and potentially the chance to move to the global business arena, yet also much more risk. Small businesses not only have less employment, but also less annual revenue than a regular-sized business. With the growth of large corporations and chain businesses, it has become harder to maintain the survival of a small business. The COVID-19 pandemic has also brought more pressure onto the already unsteady survival of small businesses, due to forced closures, decreased agility, fewer technological innovations, and smaller customer bases. The Research Anthology on Small Business Strategies for Success and Survival offers current strategies for small businesses that can be utilized in order to maintain equal footing during challenging times. With the proper strategies available to small business owners, small businesses could not only survive, but also excel despite the environment that surrounds them. Covering topics including decision management, new supportive technologies, sustainable development, and micro-financing, this text is ideal for small business owners, entrepreneurs, startup companies, family-owned and operated businesses, restaurateurs, local retailers, managers, executives, academicians, researchers, and students.

Does an organization like a small business exist? There are many different definitions for this term. The American Small Business Association (SBA) defines: a one-member private business and an enterprise with more than one to 499 employees are small businesses. A flea market vendor is not like a software design company with 400 employees. It is obviously illogical to include all small businesses under this definition. In some ways, the SBA itself acknowledges the omission of what constitutes a small business in this 29-page definition. And these are actual numbers. You think you don't need to know them when you grow your business, but I encourage you to read on. According to a 2002 Census report, there are 22 million small businesses in operation. If you take a closer look at this figure, there are about 17 million small businesses without employees. Some businesses are simply the covers that accountants and lawyers have set up for tax breaks. Others are businesses that are unable or unwilling to scale up. Although there are no employees, you can still set up a small business if: • You sell part-time candles, cleaning products, or cosmetics and make a profit of several hundred dollars per year; • You quit a job at a company and the company hired you to work as an independent contract worker; • You are retired, but still consulting in your field; • You open a stall at a local arts festival to sell home-made handicrafts; • You buy and resell some things at a higher price to make a profit, such as: cars, rental houses, valuable collectibles ...; • You get a return on your investment. There is no problem with this type of business. They bring money to the owner, so these activities are business, not merely hobbies. Many business activities even help them lead a more comfortable life. But these small businesses rarely hire more employees. In many cases, employers do not want to grow their business. They only intend to earn enough money to live or earn extra income.

Presents practical advice on getting a small business to grow, covering such topics as branding, marketing, sales, personnel management, customers, new technology, and business plans.