B. Please respond to both these discussion post responses with 100 words each.
Response 1. Msanch
1) Other than raising needed capital, what are the biggest challenges to small business today? Global competition, lackluster economy, excessive government regulations or any on your list?
2) Please feel free to present any topic of your choosing relating to small business management. Respond to a classmate’s posts to advance the conversation.
As the world evolves, small business must consider how their products and services keep up with current demands. Some of the challenges that they seem to face include the ability to transition and scale to a Digital-First World. Large companies have the means and budget to scale quickly, offering flexible payment options or hiring teams dedicated to meet the demand of the digital world, whereas smaller companies must plan any upgrade or advancement according to what their budget allows them to do so.
Subsequently, Covid-19 steamrolled several small businesses and this in of itself posed a challenge for small businesses. Jason Lee, Owner, Healthy Framework stated that “COVID is making forward planning near impossible. Without knowing how long it is going to be here and to what degree, it is impossible to plan out marketing efforts, gauge staffing needs, or just know what our customers and clients need.” While digital advancement adds to the global competition, it is my believe the problems small business face are due to a lackluster economy, a direct result of the Covid-19. The most challenging part is the unknown, opening and closing to re-open, there are no viable solutions to counter economic impacts.
Pierce, D. (2021, February 20). 10 Biggest Challenges Small Business Owners Face Right Now. Entrepreneur. https://www.entrepreneur.com/article/362771.
Response 2. Cpin
Raising financial capital can be a significant challenge for small businesses, especially new ones. This is due to the fact that creditors are likely unwilling to lend to a sole proprietor or partnership due to their limited resources (University of Maryland Global Campus, n.d.). This can be alleviated by choosing a business structure that is better suited to outside investment such as a corporation (University of Maryland Global Campus, n.d.)
Two other significant challenges for small businesses are a lack of effective leadership and proper business systems (Adams, 2017). Leadership is an absolute necessity to first have a vision for the small business and then create and execute a plan to achieve that vision. Business systems must be created to properly organize all of the work and tasks that will otherwise overwhelm employees, managers, and owners (Adams, 2017). Both leadership experience and the knowledge to create and maintain business systems can be difficult for small businesses to acquire, especially new businesses.
Adams, R. L. (2017, Sep 26). 10 Reasons Why 7 Out of 10 Businesses Fail Within 10 Years. Entrepreneur. Retrieved May 23, 2021, from https://www.entrepreneur.com/article/299522
University of Maryland Global Campus. (n.d.). Unit 1: Business Structures and Sources of Funds. University of Maryland Global Campus. Retrieved May 23, 2021, from https://learn.umgc.edu/d2l/le/content/579080/viewContent/22088549/View
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Quality Custom Writers has assembled a team of highly skilled writers with diverse experience in the online writing circles. Our aim is to become a one stop shop for all your Academic/ online writing. Check out below our amazing service!
At Quality Custom Writers, we prioritize on all aspects that creates a good grade such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines. The principal purpose of essay writing is to present the author's evaluation concerning a singular subject about which they have made. Since Professionalism is the mother of every success, try our team of experienced writers in helping you complete your essays and other assignments.
You have been trying to join that prestigious institution you long yearned for, but the hurdle of an admission essay has become a stumbling block. We have your back, with our proven team that has gained invaluable experience over time, your chance of joining that institution is now! Just let us work on that essay.How do you write an admission essay? How do you begin the essay? For answers, try Quality Custom Writers Now!
Editing and Proofreading
Regardless of whether you're pleased with your composing abilities, it's never an impractical notion to have a second eye go through your work. The best editing services leaves no mistake untouched. We recognize the stuff needed to polish up a writing; as a component of our editing and proofreading, we'll change and refine your write up to guarantee it's amazing, and blunder free. Our group of expert editors will examine your work, giving an impeccable touch of English while ensuring your punctuation and sentence structures are top-notch.
We pride ourselves in having a team of clinical writers. The stringent and rigorous vetting process ensures that only the best persons for job. We hire qualified PhD and MA writers only. We equally offer our team of writers bonuses and incentives to motivate their working spirit in terms of delivering original, unique, and informative content. They are our resources drawn from diverse fields. Therefore your technical paper is in the right hands. Every paper is assessed and only the writers with the technical know-how in that field get to work on it.
College Essay Writing
If all along you have been looking for a trustworthy college essay service provider that provides superb academic papers at reasonable prices, then be glad that you search has ended with us. We are your best choice! Get high-quality college essay writing from our magnificent team of knowledgeable and dedicated writers right now!
Quality Assignment/Homework Help
We give the students premium quality assignments, without alarming them with plagiarism and referencing issues. We ensure that the assignments stick to the rules given by the tutors. We are specific about the deadlines you give us. We assure you that you will get your papers well in advance, knowing that you will review and return it if there are any changes, which should be incorporated.