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Author: Julia Deans
Small businesses have long been the engine of our country's economic growth. Yet, for the past eight years, our needs have been neglected and ignored, despite the fact that small businesses comprise over 25 million enterprises and over 99% of employers in the country. Small Businesses are no small part of Georgia's economic lifeblood. Fueling job growth as well as personal pride, their success depends on a supportive environment for the entrepreneurial spirit. Small Business Economics provides an invaluable forum for research and scholarship focusing on the role of entrepreneurship and small business. The journal has a broad scope and focuses on multiple dimensions of entrepreneurship, including entrepreneurs' characteristics, new ventures and innovation, firms' life cycles; as well as the role played by institutions and public policies within local, regional, national and international contexts.
Small business is certainly where the creativity is coming from these days. Recent events just show how bloated the large corporations are and surprisingly, it wasn't too many years ago that many of these same companies were small businesses, with a creative idea, themselves! Small business is San Francisco's economic engine, creating the innovation, entrepreneurship and job growth that fuel the vibrancy of this city. When businesses, employees, residents and visitors buy from local business, the dollars stay local to sustain a healthy economy. Small business is the source of our entrepreneurial genius, creativity, and productivity. Nonetheless, a substantial portion of our economic activity occurs within large corporations, non-profits and public enterprises.
Customers are more nervous about their own income and spending. As this circle continues, it will continue to pressure small businesses to make the most of their resources and make some tough choices if they're going to survive the current crisis. Customers just want to get a "fix" of their area of interest from a face they know. While they don't usually buy anything (or just a low margin consumable) during these visits, the visits are crucial to loyalty that leads to major purchases.
Planning, skilling up and most importantly marketing/networking are all more important in my opinion than just hiring. Hiring costs money, which most start-ups don't really have the luxury of straight away, unless you have a lot of money behind you. Plan to be open for business, and ready to work when the customers are looking for your services.
Small business is worth it, when you decide that you want to do something that is both challenging and fun at the same time. You will find that starting a small business is something that will give you strength in areas you otherwise did not know you had. Small business is not a synonym for small earnings. In fact, many small businesses are extremely profitable.
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