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Small Business Management and Operations

Although small business owners and management professionals do not necessarily have to obtain a formal education, courses or a degree in business administration or operations can be helpful. Read on to learn more.

Inside Small Business Management and Operations

According to the U.S. Small Business Administration (SBA), many small businesses don't survive beyond their fifth year of operation (www.sba.gov). There are several reasons for this, including inexperienced management. Small business owners must often juggle multiple responsibilities, such as employee relations, sales, accounting, customer service, inventory, marketing, and advertising. Business owners also need to understand and identify unique factors related to their local markets and customer base.

Those who wish to take the entrepreneurial route with an existing business can go into franchising. These types of opportunities may present less risk due to the visibility of a name brand and co-marketing support. Licensure may be required for certain types of franchise-based businesses, depending upon the jurisdiction and type of operation.

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