Effective Small Business Management, 10th Edition - download pdf or read online

By Norman M. Scarborough

ISBN-10: 0132157462

ISBN-13: 9780132157469

Observe how you can effectively release and deal with a small company. Open your brain to the chances, demanding situations, and rewards of changing into a small enterprise proprietor with potent Small enterprise administration. this article presents readers with the instruments they wish that allows you to release and deal with a small company. This version good points new and present examples, up-to-date info on ethics and social accountability, and several other new pedagogical gains.

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Extra resources for Effective Small Business Management, 10th Edition

Example text

The “glass ceiling”)— determine how high they can rise. Opportunity to Reap Impressive Profits Although money is not the primary force driving most entrepreneurs, the profits their businesses can earn are an important motivating factor in their decisions to launch companies. If accumulating wealth is high on your list of priorities, owning a business is usually the best way to achieve it. 34 Self-employed people are four times more likely to become millionaires than those who work for someone else.

Small businesses also play an integral role in creating new products, services, and processes. Small companies produce 13 times more patents per employee than do large firms, and many of those patents are among the most significant inventions in their fields. 101 Many important inventions trace their roots to an entrepreneur; for example, the zipper, the personal computer, FM radio, air conditioning, the escalator, the light bulb, the helicopter, and the automatic transmission all originated in small businesses.

Set boundaries that separate work and no work times and stick to them. Rule 14. Take advantage of tax breaks. Although a 1993 Supreme Court decision tightened considerably the standards for business deductions for an office at home, many home-based entrepreneurs still qualify for special tax deductions on everything from computers to cars. Check with your accountant. Rule 15. Make sure you have adequate insurance coverage. Some homeowner’s policies provide adequate coverage for business-related equipment, but many home-based entrepreneurs have inadequate coverage on their business assets.

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Effective Small Business Management, 10th Edition by Norman M. Scarborough


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