Reasons to continue small-scale business.

[PICKFORD]

There are definitely a lot of reasons to continue the practice of small-scale business, small scale business could be or take any form. but I am not going to talk about the forms of small-scale business but rather I will be talking about the reasons why small-scale business should be in existence some of which include:

1. Small capital requirements:
the small-scale business requires small capital to set up making it very easy for a no brainer to establish that is to say that you do not require a huge amount of capital to start up a small scale business.

2. Provision of incentive for hard work:
there is always incentive for hard work since ownership instills pride and drive for success, rather than staying idle it is encouraging for every person who is jobless to start up a small scale business.

3. They enjoy consumers loyalty:
small-scale business units always enjoy loyalty from customers and also they enjoy good relationship from customers and clients which ensure continued patronage.

4. Availability of goods in remote areas:
this reason is actually true while small scale business should still be in existence the small-scale business also ensures that goods are distributed to remote and rural areas not only in Urban or develop areas.

5. Low level of risk:
most small scale business are retailers and because of its small scale outfit it usually requires all involved low level of risk unlike larger scale business who's overhead cost are huge unlike that of a small-scale business.

 

[Kingsley]

Small scale business is indeed playing a major role in the society and to the economy of every nation. They seem to be the epicentre of every vibrant economy. without the small scale businesses it will be very hard for every other business unit like the large scale and medium scale businesses to reach their set targets. Hence we need to attribute so much importance to small scale industry as I will like to class them.

One of the major reasons people or investors prefer having the small scale business is because it is less capital intensive, it doestn require much capital to start a small scale business one can even access quick loans to start working on a small scale business.

Another reason is because it is less stressful in the sense that it does not require much people and to operate and hence the human managerial stress will be of less concern for a small scale business operator.

Another aspect of small scale business that Iis very advantageous is the easy to making decisions because you dont necessarily need to consult anyone before making decisions, hence decision making is always fast.


It can aswel be set up in any location.

 

[Good-Guy]

I think that there are many advantages of starting a small business. First of all, I agree with you that small businesses require small capital. However, the issue is not only about capital. The real thing here is that a small businessman must have the ability to use the limited or small amount of capital to make more and more profits. utilizing the capital in a proper way is very important. You can invest a huge amounts of capital in a small business and end up suffering from loss. As far as benefits of small businesses are concerned, I think many people often overlook the fact that the government also has soft policies for smaller businesses.

Mostly, the government usually targets big businesses because the government is more likely to generate a good amount of tax revenue from big businesses. On the other hand, smaller businesses do not offer good tax returns to the government. Moreover, it is also much easier to manage a small business. You do not need to hire a large group of people and in some cases, smaller businesses are solely managed by the owner alone albeit they might hire an assistant or a helper to accompany them.

 

[Caramelle]

Initially, the appeal of a small-scale business is the low capital requirements to start one. Potential business owners can often set up a small business using their own funds or savings as capital. Its operating costs are much lower. Small businesses usually require less manpower to operate and are thus less costly and much easier to manage. In some cases, the owner or family members can take turns in running the business. Because each family member has a personal stake in the business, they are likely to be more involved in providing better customer service. Staying small can also reap big benefits in terms of taxation as their sales are often below the threshold and can usually be matched with tax exemptions.

Small businesses contribute to society and the economy by providing products and services to people who are otherwise out of reach by big businesses. They make products available in more affordable packaging by repacking them or selling them in small packets. They can serve as a sales venue for other small-scale manufacturers and thus help the economy by supporting livelihood at the grassroots. They can be mobile and serve the needs of many remote communities. Small businesses may have flexible operating hours and they usually develop a more personal affinity with their customers.
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