Small Business Development in the United States Essay

Small businesses were once the backbone of the United States economy. After a time these business owners expanded, merged, and bought other businesses. This historic business trend has created some the well know corporations we know of today. One example would be the development of Wal-mart. Today, small businesses operate in the shadows of â€Å"big box† stores. However, small business owners account for more than 90% of, but only less than 5% or 10% of the GDP, â€Å"gross domestic product.† As a manager of a large corporation or a prospective business owner it is wise to be knowladgeble of new competitors, state of the economy, and current management trends. There are trends today that will change everyone’s expecatons of small business†¦show more content†¦During the recession companies downsized on these jobs and are still reluctant to hire for these positions. A small business opportunity would be to start a business that offers outsourced service such as this. A testing business thoroughly tests other businesses’ apps and websites for glitches, flaws, etc†¦New websites or apps usually never get test properly. There is a demand in this field and potential growth in particular niche markets. A mobile salon business is another way to take advantage of the large baby boomer generation that is now senior citizens. More elderly people would rather pay for a salon to come to their house to do their hair and nails. Food truck restaurants are appearing all over. This is no new idea, however this idea as a restaurant is gained a lot of attention since 2012. The investment is way lower and the failure rate is only 10 to 20% as opposed to a brick and mortar restaurant which is 60 to 90%. It is expected this industry will reach 2.7 billion dollars by 2017. Being a software trainer is in more demand these days. With so many sophisticated programs on the market more and more people would rather pay to have someone teach them how to use the program instead of learning themselves with a user manual. Usually an entrepreneur in a startup business like this will hold small workshops. The year 2014 holds signs of economic recovery and growth for small businesses. On average there has been an increase in employment per business whichShow MoreRelatedThe Small Business Administration ( Sba )1236 Words   |  5 PagesAbstract The Small business administration (SBA) was created on July 30, 1953, by President Eisenhower with the signing of the Small Business Act. When it was created, there are some presidents want to stop it and some presidents want to develop it. Therefore, we also can see it active in the United States government on today. In this paper, I will through the background of The Small Business Administration (SBA) to introduce what type of organization is it? What does the organization do? 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