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Accounting and Marketing—Key Small Business Problems

Accounting and Marketing—Key Small Business Problems The Small Business Administration (SBA) estimates that small businesses represent 97 percent of all businesses in the United States [5, p. 1]. The SBA defines a small business as “one that is not dominate in its field.” While the ma and pa shops fall within this definition, much larger firms are considered small under SBA criteria.The owner-managers of these small firms face unique problems—success or failure is keyed to solving these problems. Each year in the United States, some 500,000 new businesses start and 400,000 businesses discontinue operations [1, p. 47]. These discontinuances are not all due to business failure (a bankrupt firm). Some small firms are merged with larger companies, while the spark of life leaves other small firms because the owner retires without a son or daughter to take over the reins of leadership.The purpose of this article is to aid small business managers by (1) reviewing the process of beginning a business, (2) identifying some of the attributes that characterize a successful or unsuccessful small business, and (3) discussing small firms’ problems common to the frontier states of Alaska and Wyoming. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Small Business SAGE

Accounting and Marketing—Key Small Business Problems

American Journal of Small Business , Volume 7 (4): 8 – Apr 1, 1983

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Publisher
SAGE
Copyright
© 1983 SAGE Publications
ISSN
0363-9428
eISSN
1540-6520
DOI
10.1177/104225878300700404
Publisher site
See Article on Publisher Site

Abstract

The Small Business Administration (SBA) estimates that small businesses represent 97 percent of all businesses in the United States [5, p. 1]. The SBA defines a small business as “one that is not dominate in its field.” While the ma and pa shops fall within this definition, much larger firms are considered small under SBA criteria.The owner-managers of these small firms face unique problems—success or failure is keyed to solving these problems. Each year in the United States, some 500,000 new businesses start and 400,000 businesses discontinue operations [1, p. 47]. These discontinuances are not all due to business failure (a bankrupt firm). Some small firms are merged with larger companies, while the spark of life leaves other small firms because the owner retires without a son or daughter to take over the reins of leadership.The purpose of this article is to aid small business managers by (1) reviewing the process of beginning a business, (2) identifying some of the attributes that characterize a successful or unsuccessful small business, and (3) discussing small firms’ problems common to the frontier states of Alaska and Wyoming.

Journal

American Journal of Small BusinessSAGE

Published: Apr 1, 1983

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