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Franchising is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser). McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable.
Many small business owners put in long hours to help their ideas prove fruitful, a phenomenon called sweat equity. According to a New York Enterprise Report cited by SCORE, 33 percent of small ...
Heads up to anyone who is a freelancer, independent contractor, business owner, property renter or just a hobbyist who occasionally sells their creations: If you accept business-related income ...
NEXT surveyed 1,500 small business owners aged 18-64 across industries and regions in late October and November 2024 to share findings about how economic factors are shaping business in the new year.
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
The owner carries the financial responsibility for all debts and/or losses suffered by the business, to the extent of using personal or other assets to discharge any outstanding liabilities. Thus, the owner of a sole proprietorship may be forced to use his/her personal holdings, such as his/her car, to pay the debts. [5]
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