SMALL BUSINESS MANAGEMENT

Small Business Management

Small Business Management

Small business can be viewed from a number of perspectives. In some cases, small business represents a family or partnership venture and serves simply as an alternative income source for individuals or partners who undertake the business (Ensley, 2009.

Financial

Despite their relatively small market power, SMEs' small size and flexibility permits them to specialize in narrow niches that are generally less interesting for larger enterprises due to the relatively small sales volumes and their high fixed costs. In addition, SMEs' limited resources result in a concentration on a small product range where strong competitive advantages and ...