Reasons for small business success and failure: Reflections of a literature review

Type :

Term papers

Pages :

4 pages

Format :

.doc

Published date :

07/13/2009

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Summary :

 
 

Table of Contents Reasons for small business success and failure: Reflections of a literature review Table of Contents

 
  1. Introduction
  2. A review of the academic literature
  3. Reasons for business failure
  4. Reasons for greater chances of success
  5. Conclusion
  6. Works cited

Abstract

Within all major economies, the role of the small business is significant; as such it is important to understand the factors associated with why some small businesses fail and why others are successful. for the purposes of this paper we will assume that a small business is a for-profit enterprise which is owned independently and does not hold a dominant position in the broader industry. There is widespread agreement that a nation's prosperity is linked with the performance of its small businesses, as entrepreneurship creates jobs, develops innovation and creates wealth. Unfortunately though being a small business owner is not easy as there is a statistic in the United States which that more than 50% of small businesses fail in its first year of operation and 95% fail within the first five years of operation. (Dun & Bradstreet 2004). This is a loose statistic, but it speaks to the greater issue of most small businesses failing within a short period of time after inception.

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About the author :

pencil image Lawrence W.  
Level :General public Study : Social sciences School/University : University of Toronto

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