Running a Business

Good Essays
Within the world of business there are rules, laws, and structures that must be followed in order to start, run and maintain a business. In the course book entitled Contemporary business, we look to chapter five to learn the much needed skills for organizing both small and large businesses and on chapter six we gain the knowledge and skills needed to start a business. Small businesses today are the majority and the norm. Small businesses contribute to our struggling economy by creating new jobs, new industries, and the innovation to keep up with our changing technology. Like major companies, small businesses are not immune to disastrous results. With management shortcomings, inadequate financing, and all of the local and state government regulations, small businesses can fail miserably. Programs like the Small Business Administration or SBA are a key factor in assisting small businesses start off. While the belt has been tightened with the current economic status, to offer the funding they used to, they do offer management training and consulting to securing finances. As a business owner one must decide if they will be a sole proprietor, a partnership or a corporation. Those are three important factors to consider when starting a business. The fact that the initial choice can be changed later on is a plus for the potential growth of one’s business. Another important key to know is the corporations can be established in three different ways, Domestic, Foreign and Alien Corporation. Knowing where you fall in categorizing your corporation is important. Chapter six continues the learning process by going in depth with what an entrepreneur is. While chapter one described an entrepreneur as a risk taker, it is also a person who is highly motivated to make and see profit. The key motivator to being an entrepreneur is that you are your own boss. Who doesn’t want to be able to make choices that benefit them in the end rather than another person. The other motivators to

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Errand Running Business in Birmingham An Errand Running Business is providing unique solution services to busy individuals and organisations. It reclaims the clients’ time for more important things and taking care of the mundane tasks. The service is fast, efficient and completely reliable. We are providing our services to both individuals and organisations. For organisation side, the errand running business could free their staffs from distractive personal tasks, which enhancing…

    • 323 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    RUNNING A BUSINESS PAGE ON FACEBOOK P1: If you want to run a business page on facebook, the first thing you need to do is that create an accout by click link facebook.com and fill in the infomation to register P2: Click on “Create a Page” on bottom left-hand side of the Facebook homepage (Note: it’s important to start this process LOGGED OUT of Facebook if you do have a personal facebook page). Choose from“local business", "brand/product/organization", or "artist/band/public figure” under “create…

    • 396 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    RUNNING A SUSTAINABLE EVENTS BUSINESS. By Flora Wallace Word count: 1,470 Abstract A practical look at running an event, putting sustainability at the forefront of event mangers decisions. Discussing why sustainability is important for a business’s future. How to go about changing business practices and how to communicate this to staff, suppliers and other stakeholder. Table of Contents 1.0 Introduction 4 2.0 Running a sustainable events business 4 2.1 Existing…

    • 2194 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Running

    • 2161 Words
    • 9 Pages

    ------------------------------------------------- Top of Form Search Google Appliance Enter the terms you wish to search for. Bottom of Form Running Log Tools * Fitness Calculators * Pace Calculators * Race Finder * Recipe Finder * Route Finder * Shoe Finder * SmartCoach * Store Finder * What to Wear Community * COMMUNITY HOME * Forums * The Loop Columns * Ask Coach…

    • 2161 Words
    • 9 Pages
    Satisfactory Essays
  • Better Essays

    Topic: Advantages and Disadvantages: Doing Business The benefits of running of family business far outweigh the disadvantages. Relate this to your personal experience. Use specific examples and provide appropriate evidence to support your answer. The definition of family business is a group of family members have controlling shares in a business (IFC Corporate Governance). Today, most family has their own company or factory. The family business across the world and continue to be more hopeful.…

    • 1195 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Running

    • 1107 Words
    • 5 Pages

    Jaymes Studabaker Running, running, running down a dark alley don’t know where to go and then you come face first into a brick building you get knocked unconscious and you wake up not knowing where you are. Have you ever had that happen to you? Well that’s happened to me. I was a good kid, popular, and as the girls would put it hot. Well now I can’t talk to girls or let’s just say any one for that fact. My parent named me Phillip, but now I go by James. The person that made me run into that wall…

    • 1107 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Edgar, my cousin, is always thinking of the next business idea. His next business idea includes buying to gas stations. He believes that both gas stations would be profitable and allow revenue for him to increase. After recently reading an article named “$4-a-Gallon Gas Fueling Fears for Recovery” I decide to research the market in terms of supply and demand, elasticity, costs of production, pricing, and normal or economic profit or loss. In order to help my cousin Edgar I would like to provide…

    • 2058 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Working For Large Companies Or Running Your Own Business Some people show special interest in working for a large company, while others are more willing to run their own business. Of course, every individual has his own opinion about the strengths and weakness when it comes to serving in a big firm or managing his own business. For me, my choice is to work for a large company. In a large company, I could own a step-by-step process from starting at an entry-level position to working myself up…

    • 497 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Running ones own business is difficult but rewarding Starting a business is one of the most challenging, but rewarding things you can do. If you have reached the point in your career where you are seriously thinking of starting your own business, the reality is hard work, low pay, and the dedication of many of your own hours building a business from scratch. Success is up to you and the effort and creativity you put into building your own business. Many people have their own different ideas…

    • 569 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Running a Starbucks

    • 959 Words
    • 4 Pages

    Running a Starbucks Sarabeth J. Techau MGT 330 Prof. Sherry Phelan October 15, 2012 Running a Starbucks There are many responsibilities when running a Starbucks. There are the customers that come first and the employees that serve them. One must divide duties and responsibilities between employees. The company needs an effective leadership structure to manage their employees. To become successful there must also be contingency plans for potential issues. A manager of a Starbucks franchise…

    • 959 Words
    • 4 Pages
    Better Essays