For example, you can start a small business in your garage. The barriers to entry can be relatively low with a small business. Many small business owners start their businesses because they’re experts in their trades, not because they’re experts at managing a business.ĭespite the challenges, being a small business owner does come with many invaluable benefits and rewards. This can be extremely difficult for some. Like its larger cousins, you still need to manage a small business efficiently and effectively in order to survive over the long term. Owning a small business is not easy, nor is managing one. As a result, it’s difficult to overemphasize the importance of small business management. In addition, a substantial majority of American workers rely on small businesses for their livelihood. ![]() ![]() In the United States, 99.9 percent of the millions of companies are small businesses.
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