essay question Why would you want to start a small business

essay question: Why would you want to start a small business? Do you think this reason is enough to make you successful? Why?

Solution

Answer:

Reasons of starting small business are as below-

(1) Less capital is required.

(2) Management is easy.

(3) Less compliance with laws burden.

(4) Close interaction with customers.

(5) Easy to change/shut down.

(6) Easy in taking decisions/overall control.

(7) Takes less time to start as compared to large business.

Although reasons are contributory in success of small businesses, but still other factors such as good planning and right decision taken in business are necessary to make a business successful.

Many small businesses are successful as compared to large business just because of the facts mentioned above. Further if small business utilizes the privilege given to them and also understands merits of larges business, chances of success is much more.