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As a small business owner, you have control over running your business and what products or services you offer. Some benefits that come along with owning your business are: Potential for success
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.
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 ]
Key takeaways. The average small business owner salary can range from $83,000 to $126,000, which is higher than the average American makes. A business’s location and industry can impact the ...
Being a small business owner can provide flexibility, allowing you to work as much or as little as you want and make your own schedule. You get to call the shots, including which clients you work ...
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with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub.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 ...
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