'Small Entrepreneurs' is a generic term used to describe a wide range of types of personal employment. Small business owners are in fact self-employed, and operate businesses ranging from takeaway food shops to professional services. Small businesses are currently undergoing a surge messily New Economy takes hold around the world. Small business now includes online businesses, affiliate marketing, blogging and in some cases multi-streaming entrepreneurial business.
Small Entrepreneurs are actually operated on the basis of personal skills, qualifications and talents combined with business knowledge and expertise. Formal qualifications aren't specifically required for small business, but basic business knowledge is essential. Most small business owners are either experienced in business operations in their field, and/or have business training.
Most people get into small business on the basis of other skills or experience. For example, an experienced fashion sales person may decide to start up their own shop.
Cost is a big factor in small business, and it's often a reason for the way in which small businesses are conducted. Some people may operate home-based businesses or small commercial premises, depending on cost. A qualified accountant may decide to cut costs, operate from home, and simply realign an existing business and to become more profitable.
Small Entrepreneurs career progression is based entirely on the success of the business. Many small businesses expand and develop their income base, generating more capital. This capital is put back into the business to increase the revenue stream. Some small businesses become much larger businesses, and sometimes even franchises. The classic example of a small business becoming a global business is McDonald's, which started from a single hamburger shop.
Some small Entrepreneurs approached the entire concept differently. Many people buy and build up businesses, then sell them at a healthy profit. These people tend to be business experts, able to identify undervalued or underdeveloped small businesses and turn them into moneymaking operations.
Important: Small Entrepreneurs do also include some financial risks. Approximately 90% of small businesses fail in the first three years. The usual reasons are bad money management, a lack of business skills or unreliable business associates. That's one of the reasons experience in your line of small businesses so important. The ability to assess risks is absolutely vital in small business. Good business practices are also essential to proper management.
If you're looking for a career where you're your own boss, and you have creative ideas about running a business, small business may be your best career option.