Small business management is the process by which all the available resources like human resource, marketing management, accounts etc utilizes skillfully and efficiently so that the objective of business organization can be achieved. As by name, it is the case of small business management so such business activity starts with a very low cost and on a part time basis. Small business starts with low investment and smaller size of the employee works in such an organization.Small-scale business activity proves to be easy in handling due to its lower size in every aspects of business activity. Owner has the liberty to take decision independently and modify the business policies as per the need of the business. Although the small scale business activities starts on lower scale but professionalism is needed for its survival as in lack of this, it can ruin its future.
It has been noticed that today the trends of small-scale business organization is on increasing way and people are taking interests in establishing their own business. Reason is that small business are the platform which makes people their own boss and they have liberty to implement their amendments if any for the flourish of the business. But it also is in your mind that there are some restrictions and risk factor, which must be obeyed during handling of a small-scale business activity. Although it has better prospect but a risk factor too, which can ruin the future of organization.Prospect of small business management:
(a) Freedom to operate independently: Small-scale business activity is establishes on smaller scale and its proprietorship belongs to its owner only. He has right to look after the drawbacks and profit of the business and he can take independent decision for the flourish of the business. The delay in taking decision can hamper the business activity and hence people like to start their own small business activity.
(b) Started with low investments: Small-scale business activity can be start with very low investment and it can be handled with very few staffs. However for the betterment of the business it is necessary to increase the staff as per need but initially some of staff is enough. Investment is not a major issue for the inception of the small-scale business and better handling can be done with better output.
(c) Job Security: Job security and satisfaction is the another reason behind the increasing aspects of small business. Generally staff that worked in different big business organization and forced to quit the job starts their own business activity with their working experience. Small business has a major advantages that here owner has not tension regarding snatching the job. They worked hard for the survival of the business activity as his career is attached with the success of the business.
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