Importance of small scale business

[Hagson1]

In general when we talk about business, be it large or small we are referring to the act of buying and selling of goods and services. Every business we see has a starting point. Most the the business start from a small scale to the large scale business. Permit me to say that small scale business is that business that is own by an individual. It's comprises of limited number of employees and materials. the importance of small businesses to the economy is undeniable and goes beyond the domain of direct contribution to revenues. This smalle scale business has a lots of importance which some among them are:
Without the small scale business the economy of many countries like Nigeria will collapse. This is because under develop and developing countries depend largely on this scale scale business for the improvement of their economy.
This small scale business also help to reduce the level of unemployment in a country. As the majority of the people engaged in this kind of business and this is because, for instance countries like Nigeria if you depend on government work you won't see any job. Because the availability of government work is no more because of the population type of government.

 

[TOZZIBLINKZ]

In in most regions of the world the government and its agencies do not allowed private individuals to own businesses whether in live scale or small scale . To be more elaborate countries that practice socialism do not allowed their citizens and people to participate in business and other business-related activities there by giving the people no choice or ability to choose . On the other hand small scale businesses is very important because most government in various regions I not able to accommodate all of it citizens by giving them job opportunities .

So rather than Being idle and lazy individuals took to be self-employed so as to earn a living by making profits depending on the kind of business they indulge in . A more serious off West Africa to be precise Nigeria they have been an increasing rate of self-employed businesses more than government owned enterprises this is due to the high rate of unemployment which have caused people to develop businesses for themselves rather than waiting for the government to sort out their employment need . Being self-employed must be seen as an alternative to unemployment . And although self-employed businesses are being hindered by some certain factors but what is key in a self-employed business is to keep a proper and determined mindset . With a proper and determined mindset possibilities are your business will flourish and reach higher heights .

 

[Chibson]

When you go to so many places around the world you will discover that many individuals have indulged in small scale businesses because it helps to boost the economy and at the same time, helps to boost their financial lives. Like someone have stated, there are some countries that do not allow their citizens to run such business and of course that is called socialism. Almost every business is controlled by the government and they are responsible for almost everything the individual do. You do not take your own business decision because your profit is shared among the citizenry equally. This is why many of the billionaires you see today who are from socialist countries always have citizenships in other countries.
Small scale businesses is of a great importance to both the individual and the government in large. Firstly it helps to eradicate unemployment and at the same time it helps to fight poverty generally. In some African countries there are a lot of individuals who try as much as possible to engage in small scale businesses because of the increasing rate of unemployment and hardship. With the availability of this kind of opportunity people can now involve themselves in small scale businesses and also employ others.

 

[Jasz]

Small scale businesses are becoming more common today. As the economy is fluctuating and unemployment levels are rising, more and more people have decided to take matters into their own hands and start their own small businesses. However, although many people are aware of the benefits of owning a small business, not as many realize the importance of small-scale businesses in society.

Small businesses are vital to our community because they employ many people, help to improve the economy, and provide unique services that large companies often do not.

First, small businesses employ many people. Because they do not have as many financial resources as large corporations, they cannot afford to hire machines or robots to work for them. Instead, they must rely on human labor to complete tasks and get things done. If you look around your neighborhood or town, you will see how many small businesses there are and how much employment these companies provide.

Second, small-scale companies help improve our economy. Although large corporations may be responsible for a significant amount of money circulating through our economy, it is not enough to keep everything going on its own. A healthy economy requires a balance between both big and small organizations; if we were to lose all of our neighborhood stores and businesses, we would have nothing left but large organizations.