Small businesses built the United States in the country's first century. Today the flexibility of small businesses provides lessons for big business. Small businesses contribute to the U.S. economy not only in innovation and adaptability, but also in job creation for women and minorities and in economically distressed areas.
Hector V. Barreto, Administrator, U.S. Small Business Administration
Small businesses contribute significantly to the U.S. economy in innovation, adaptability, and job creation for women and minorities, as well as in distressed areas.
Small businesses helped build the United States. Americans hold high regard for small businesses, whose flexibility has provided lessons for big business.
To encourage small businesses, governments should make capital accessible, facilitate business education, reduce regulatory burdens, and protect intellectual property.
U.S. laws aim to eliminate shame from bankruptcy and encourage those who fail in business to make another try.
Starting a small business requires self-examination, crucial decisions about what good or service to sell, financing, writing a business plan, and whether to have a partner.
It is a mistake to begin expanding a business before establishing a stable and profitable operation. Carefully work out the problems, including achieving a money-making model from which to expand.
Interviews with five small-business owners who describe how they started and the continuing challenges they face.
These photos depict “upstarts” who pulled off successful “startups” during their teens or 20s.
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