TEAM 7 - Small Business: Ownership and Management Process

WHAT IS A SMALL BUSINESS?

https://asq.org/quality-resources/small-business
Small business is defined as a privately owned corporation, partnership, or sole
proprietorship that has fewer employees and less annual revenue than a corporation or
regular-sized business

SMALL BUSINESS EXAMPLES:

http://metronewscentral.net/manila/metro-business/10-small-business-ideas-for-pinoys-with-small-capital
TOP SMALL BUSINESSES IN THE PHILIPPINES
 Sari-sari store
 Bakeries/Baking Businesses
 Rice Retailing
 Online Selling
 Food Cart/Franchising Food Stalls
 Photography Businesses
 Street Food Businesses
 Detergent and Soap Businesses
 Printing Businesses
 Ukay-ukay Business

CHARACTERISTICS OF SMALL SCALE BUSINESS

https://smallbusiness.chron.com/profit-vs-not-for-profit-organization-4158.html
 Lower Revenue and Profitability
 Smaller Teams of Employees
 Small Market Area
 Sole or Partnership Ownership and Taxes
 Limited area of fewer locations
SCOPE AND OBJECTIVES OF SMALL SCALE BUSINESS
https://www.timesdarpan.com/small-scale-industry-in-india/#:~:text=Objectives%20of%20Small%20Scale%20Industry,-The
%20various%20objectives&text=To%20generate%20immediate%20and%20large,villages%20and%20economically%20lagging%20regions.

SCOPE:
 Manufacturing activities
 Servicing/repairing activities
 Retailing activities
 Financial activities
 Whole-sale activities
 Construction activities
 Infrastructural activities like transport, communication etc.

OBJECTIVES:
 To generate immediate and large scale employment opportunities
with relatively low investment.
  To eradicate unemployment problem from the country.
 To encourage dispersal of industries to all over country covering
small towns, villages and economically lagging regions.
 To bring backward areas too, in the main stream of national
development.
 To promote balanced regional development in the whole country.
 To ensure more equitable distribution of national income.
 To encourage effective mobilization of country’s untapped
resources.
 To improve the standard of living of people in the country.

CLASSIFICATION AND TYPES

SMALL BUSINESS AS A SEED BED FOR ENTREPRENEURSHIP

START UP PROCESS
LEGAL FRAMEWORK

RAISING FUNDS

FORMS OF BUSINESS ORGANIZATION

MANAGEMENT PROCESS AND STRUCTUE: FINANCE, OPERATIONS, HR, IT &

SALES/MARKETING

QUOTES:

“To be successful, you have to have your heart in your business, and your business in your
heart.”