Small Business is a pillar of the economy of a country. For example, in United State, more than 80% of the business is small business.
John Naisbitt in his lecture on global entrepreneur forum 95 in Singapore stated that there is a tendency towards 2000. The tendency includes shifting world activities and great players or conglomerates to the direction of small players that use a business in small and medium scale.
He also mentioned that the small players will be major players in the great economy.
Definition of business is all activities that seek profits by obtaining the necessities of goods and services to others (Nickels, McHugh, and McHugh, 1996).
The definition of small business is a business owned independently and the activities are not dominant and meet certain standards (Luthans and Hodgetts, 1989).
Types of small business are as follows:
1. Services Business
2. Retail Business
3. Wholesale Business
4. Manufacturing Business
5. Agricultural Business
References:
Nickels, W.G., McHugh, J.M., McHugh, S.M, 1996, Understanding Business, Chicago : Irwin.
Luthans, F, Hodgetts, R.M, 1989, Business, Chicago : The Dryden Press.
