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Planning
for Small Businesses and Aiding they Success
Planning
for Small Businesses and Aiding they Success
Name
Institutional
Affiliation
Market
conditions are highly dynamic and firms, either large or small, have to find a
way to survive amidst many competitors. Currently, according to Abramowicz (2007), the major threats to
business success emanates from relatively larger firms that have the financial
capability to implement up-to-date technology, and more so, enact better
advertising. An entrepreneur may increase the success rate for a small business
by seeking alternative sources of capital to facilitate operations. As such,
they can get the benefits of economies of scale by buying in large quantities.
Secondly, success can be improved through advertising both through friends and
social media. By alerting the prospective customers about the existence of the
products and services being offered, a business is at an upper hand in
improving sales and brand image. These business success strategies are
applicable for a starter and established business firms.
A business...