Benefits of Starting a Small Business?
Well, starting a business at beginning, even at small-scale seems hectic in many ways but still, there are lots of benefits of starting a small business. Following are the key benefits:
- Flexibility: It makes easy for the owners to work on their own rules. Moreover, all the decisions are in the owner’s hand can run the business as he/she wants.
- Benefits: At the beginning, the benefits may be less but still, the person who is in the most profit is always the business owner because all the money and paper work goes through him/her.
- Act as an extra source: Some owners run their business for temporary basis at the beginning and side by side doing their job which makes them stand to safe side because that job money is fixed. As through starting a small business is good option to earn extra money.
- Act on the demand of market: It is easy for the small business owners to know the value of the market regarding the particular product because a small business owner contact’s the common or local people directly most of times. So that’s why, it is easy for the small businessman to know how to deal with the goods in terms of quality and quantity.
Contributions of Small Businesses in Canadian Economy?
For the progress of industry or market, small businesses are very necessary because these provides opportunities to the people or in other words the small businesses are ones who builds the employment sector. Even the employees of small businesses are currently dominating in the Non-institutional health care, construction, food and accommodation, forestry and many more. The small businesses also help to build the GDP which is very necessary for the countries growth and stabilize the often volatile economy.
Owing the business is always a different thing. The owners can made their own rules and regulations to run their business as the things are under in their own hands. Well it is impossible to compare our own business to some other kind of job. Even the business owner has to deal profit and losses which are not in the case of the fixed salary job holders. There are certain limitations to job holder as they have to do their particular duty and works according to the employer’s directions so that’s why we cannot compare any other profession with business.
- Corporation Centre.(2011,September).the data is retrieved from. http://blog.corporationcentre.ca/2011/09/why-small-businesses-are-important-for.html