Small Business Literature review Research Paper

Small Business Literature review - look Paper ExampleGovernment defines teensy billet according to the employees, total capital and market enlargement etc. The concept of small carapace business has been changing date to time and definition of carapace business is rather ambiguous (Basu, 1998, p.104). The complexities in large scale business are greater than in small scale. However, managing a small business is as challenging as maintaining a large scale business as there are many limitations in small business.This paper will adjudicate to present literature review of small business management. The entire explanation and analyses will be divide into several sections and each section will focus on particular area of small business. The outgrowthing time two sections will analyse major pitfall and drawbacks in small business and general mistakes of small business owners. The section three will discuss effective methods and steps in starting a small business. Next section wil l focus on effectiveness and profitability of small business for used appliances and sales store. The last section will point out the importance of Hispanic confederation for small business. Finally, the conclusion will point out the major findings of the entire discussions and analyses.Many a time the entrepreneurs start a new business with great enthusiasm but overlook some claw issues that results in major pitfalls. With time these pitfalls adversely affect the business and the newly started fails to achieve its goal. Therefore, the time and the do work put in developing the business goes in vain. If the entrepreneurs can identify the common pitfalls before hand, he or she can be more attentive and the possibility of committing common mistakes can be minimised. some(prenominal) of the common pitfalls related to the SMEs are discussed below.Understanding the amount of money and time it will take to start the business While developing the business plan, the entrepreneur often m akes some assumptions which may