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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 ]
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 ...
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO).
As a small business owner, you face many unique financial challenges, including managing your personal finances alongside your business finances. Speaking with a small business financial advisor ...