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Advantages and Disadvantages to Small Business Entrepreneurship

By Fernanda Faustino and Erika Mendoza

Definition of a small business...

*According to the SBA's (U.S. Small Business Administration) definition, a small business is independently owned and operated, it is organized for profit, and is not dominant in its field.

Definition of Entrepreneurship...

Maximum number: 500 to 1500 people employed depending on the type of the product that is being manufactured.

Disadvantages to Small Business Entrepreneurship

*It is the process of creating and managing a business to achieve it's desired objectives.

Some entrepreneurs who start small businesses have the ability to see emerging trends and in response they create a company to provide a product that serves customer needs.

Businesses that started out small

Advantages to Small Business Entrepreneurship

  • High Stress Level
  • High Failure Rate

-Undercapitalization

-Managerial inexperience or

incompetence

-Inability to cope with growth

  • Independence
  • Cost
  • Flexibility
  • Focus
  • Reputation

Works Cited

O.C. , Ferrell et al. Business: A Changing World. 9th ed. the Americas,

New York, New York: Mcgraw Hill/Irwin, 2014. 150-59. Print.

"SBA.gov." What is the SBA's definition of a small business concern?. U.S.

Small Business Administration. Web. 30 Nov 2013. <http://

www.sba.gov/content/what-sbas-definition-small-business-

concern>.

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