Impacts Of Small Business - 1008 Words

Small businesses, with large impacts. Many times when you hear the term small business, you think of a small business that doesnt have the impact on lives such as global retailers. But in fact, all of the small businesses in the United States make up to 60-80 percent of all U.S. jobs. Small businesses, really are what fuel our economy and what keep our head above water as an economy. Information gathered by Entrepreneur Magazine, reported that there is somewhere between 25-27 million small businesses in the United States. This has a huge impact on our nation because not only does it generate revenue and keep the cash flow in order, but it creates millions and millions of job opportunities throughout the entire country. Although the small†¦show more content†¦The three items that almost all small businesses strive for are financial independence, to encourage innovation, and to create employment opportunities for themselves and others. These business owners help other people a nd families by giving them jobs to help support themselves. Once you get a good start and get through the tough times when it comes to starting it up, you can then have free reign on your company. That is one of the biggest reasons for being self employed, and that is having the ability to free lance and be able to express your own ideas and creations however you please. There have been lots of set backs in America’s economy whether it’s from natural disasters to unexpected government expenditures. Small businesses have been the jump start for many companies, and these small business have put money in people’s pockets. This is starting to pull people from the middle class to rich or people who are poor to the middle class or even to being rich. Thus effecting the economy very much, enriching it as people have to buy supplies for their companies or wanting to finally buy this years new BMW. But the big one is investments in products or services. This is where people want to make a new product because there is a missing product or necessity on the market. These products â€Å"†¦enable access to goods and services that populations require in order to be productive† (Sappin). Millions of people have tried to start upShow MoreRelatedThe Impact Of Small To Medium Business1452 Words   |  6 PagesSmall to medium businesse s (SMB) currently represent a significant portion of the United States economy. In 2016 over one-third of the US population is employed by companies with less than 100 employees. Unfortunately, as reported by the Bureau of Labor Statistics, nearly half of these entities fail within the first four years of operation. As a result, many SMBs are in search of a successful model to guide them beyond sustainability toward profitability. 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