THE POWER OF “SMALL BUSINESS”.
A lot of economist agreed that small business has historically been the backbone of the economics success all around the world. Small business today continues to play a dominant role in the ability of the nation to quickly adapt and to make economic progress. The development of small business also helps drive the economic success of communities, regions, and entire states. As a result, civic leaders, increasingly look to small business as a means to promote economic strength.
When small business exist at one area or location, this able generating new employment, providing a growing tax for the country and at last in also give the contribution to the country.. The success of this area will also encourage other areas to promote entrepreneurship and small business to a much greater degree.
According to, Bamford and Bruton, 2005, small business also acts as a catalyst for the societal change in other ways as well. Small business also has the ability to garner profits in markets that have been ignored by large corporations. For example, the famous place especially in the mind of women at Negeri Sembilan is Nilai 3 and Nilai 1. This is because of Nlai 3 and Nilai 1 offered the varieties of fabric and also cloth. Why this place is very popular and a lot of visitor from others states come here especially in the weekend.
Are you believe? There also have package from tour agencies that offered Nilai 3 and Nilai 1 as one of the place to visit. As a result, the existence of Nilai 3 as a centre of fabric and cloth acts as a catalyst for societal change. For instance, it encourage their society to participate and involved in small business likes restaurants and also food stall. Small business the urban area also meets the varied demands that face individuals in the society. For instance, small business in the new developed area also need small business such as retail shops, restaurants, tuitions center, car wash, car workshop, hardware shops and so on. I believe that starting a small business able to meet the needs and wants of the populations live in that area. I also believed that, large corporation may not able to do in order to meet the need and want of urban or new developed areas. So, entrepreneurs also helps to improve the lives of others people through the new products and services that they bring in the market.
The owner of small business are also involves in donating substantial portions of their wealth to eminently worthy causes. For instance in Islam, Muslim have to pay their zakat called as “business zakat”. As a result, small business not only provides valuable benefits such as profit to the small business manager but also to the society. The development of one country also has the impact from the existence of small business. That’s the power of “Small Business”.