What

is
Business
• - an organized effort of individuals to
produce and sell goods and services in order
to satisfy the needs of society
• -its objective is to acquire profit
• 2 kinds of small business

• 1. The owner is the principal , and he employs

one or more assistants (microbusines)
• 2. BIGGER SMALL BUSINESS
WHERE THE OWNER MAINLY
DIRECTS THE WORK OF THE
EMPLOYEEES
• Common Characteristics of Small
Business
1. It is privately owned
2. It has few or no layers of
managements
3. Generally, it has insufficient
resources to dominate its field of
business
FEATURES OF A

SMALL BUSINESS
• 1. Low in capital but high in labor
intensity

• Ex. Retailing, service industry

2. Efficient in specialized skill or service

3. Succeeds in small, isolated or overlooked

market

4. Often operates in unstable markets

• 5. Is closer to the market place

• 6. Generally, the owner of small business are

also the managers

• 7. Capital comes from the owner or small group

8. The area of operation is small

9. The size of the enterprise is small in

relation to the industry
 TARGET MARKET
- Small businesses CANNOT be all
things to all people.
- Each business MUST reach
specific customers and satisfy
their particular needs.
- Be a valuable tool for small
businesses.
- Allow small businesses to develop
products and marketing mix that
fit a particular customer
 Advertisements and promotions
would then be specifically tailored for
each segment of the target market –
including emails, web banners,
flyers, magazine advertisements,
television advertisements in specific
markets
GROUP ACTIVITY:

1. A business needed in your

community
2. A business using your own
personal skills and talents
3. A business that involves exports
to another country
4. A home-based business
Thank You!