1. How would you define a small business? (20 marks). Are definitions based on size meaningful when there is such diversity amongst small businesses? (30 marks).
2. How are ‘Small and Medium and Sized Enterprises’ defined? (20 marks). With reference to a chosen national economy, how would you explain the growing importance of SMEs in recent years? (30 marks)
3. How are ‘Small and Medium Sized Enterprises’ defined? (20 marks) With reference to a chosen national economy, how would you explain the growing importance of SMEs in recent decades? (30 marks)
4. Small businesses are not ‘little big businesses’: they are qualitatively as well as quantitatively different from large companies. Consider the different ways in which smallness of operation can benefit and constrain small business growth and development. (50 marks)
1. a) Define the term small business?
It is not easy to give a precise definition for small business because there are many ideas about the concept of small business. All people from different ages like to go into small business project, generally speaking those who seek their small business usually believe in the free markets system with its wide range of opportunities for such business.
Small Business grew rabidly from the mid- 1980s to the mid- 1990s as investors became more willing to take the risk of having their own businesses with all the incorporating challenges, many of these were middle-aged executives from large corporations or individuals who were eager to put their management skills to work in their business for their own benefit and interest.
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