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Small businesses

Small business have a lot of differences to bigger businesses as they would have less costumers, less employees and not many locations

Less customers

When it comes to a small businesses they are usually not as well-known and are local, this means that not as many people would know about it. Because of this smaller business would not get as many costumers, and would have smaller income. This is because the business is local and there might only be one location, whereas bigger business are more well-known around the state or nationally.

Not as many locations

For small business there is usually only one location, however for bigger business they would be a couple of shops.

Smaller amount of employees

Small business would have a lot less employees than bigger businesses. Smaller businesses would run with about 20 or less workers making it harder for working times and other factors. There is usually only one

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Characteristics of small business:

Having a small business means that it is either owned by one person or two people, with around 20 employees in one location. Over time once their business starts to grow the managers will start to employee more and more people, and they will also have more than one location for their business.

The manager’s role is to:

-  Hiring and staffing

- Training new employees

- Coaching and developing existing employees

- Dealing with performance problems and terminations

- Supporting problem resolution and decision-making.

- Conducting timely performance evaluations

- Translating corporate goals into functional and individual goals.

-Performance and initiating action to strengthen results

- Monitoring and controlling expenses and budgets

- Tracking and reporting scorecard results to senior management.

-Planning and goal setting for future periods

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Small business

-Small businesses are completely different to big or medium businesses which a small one doesn’t usually have big branches or have any at all.

-The character of a small business is a small business or service that is privately owned and operated and has fewer employers mostly up to 20 to be defined as a privately owned business.

-The owner usually engages with their employers more and knows them far better as who they are.

-Less customers are usually a big characteristic of a small business which is usually locally based in community or big city. And are owned by one or two people mostly.

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Small businesses usually have a smaller amount of employees compared to larger business.

The work hours are often a lot more flexible than if you were working somewhere Mcdonalds.

The manager/CEO is much close to the employees because there is less people to do stuff and they are often more likely to do more jobs than a manager at Coles or Woolworths.

There will probably only be one location for the business and it will likely be a smaller location other than a big one.

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Nina :)

The makeup and characteristics for small businesses or local owned businesses include:

- Their clients and customer base being smaller and not making as much profit from a larger corporate business. Example for clothing Shein, or cotton on, compared to a local shop or online small shop.

- Small business usually can work around their own hours as well. There isn’t a 9-5 open hours or hours of service, an order can come in the middle of the day or late at night.

-A lot of small businesses work managing their own packaging, Financial issues like taxes and rates if employed others in their business. It’s not as if you can talk to a CEO making all the money or have different bosses, most of the time it’s managed both out of someone’s time or own pocket.

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-A small business is a business with a small footprint. It may not have many or any branches or subsections.
-They are usually owned by 1 or two people and have a small number of employees. This leads to a closer relationship between workers and managers.
-Most of the time the business will not be spread out over a large area so may only have 1 office. Although they may ship products internationally.
-Managers work in as well as manage the business.

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Small businesses can be characterized by flexible work hours, or working by order.

A small business is usually owned by one or two people, with less than 20 employees. These owners would have direct contact or a close relationship with employees.

Small businesses are based in smaller areas with fewer locations if more than one, possibly shipping nationally or overseas. They could potentially be named after their location or owner.

Small businesses usually specialize in one product or service as they start with less money to produce a variety of products/ provide services.

Small businesses contribute less sales to the total market.

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-A small business is usually owned by one or two people but there can be more.

-A small business normally has a small number of customers.

-Normally a small business has less than 20 employees.

-The owner normally is more involved and is more like a worker and closer to employees.

-Small shop, normally one location but can ship nationally.

-More specialized to one type of services/product because they have to be better or more unique than big stores.

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·       Small businesses are very different to a big company, they hold special characteristics in comparison. As a small business you have to be prepared to work hours in your own time, work can come at any time of the day and as a small business you have to be working hard to make keep trying to grow out. These time slots can include skipping out on fun activities or having all-nighters.

·       Upsides can include being close to your employers, meaning that you will have less people working for you and helping you to get closer to  them and teaching them more depth into your business.