Small Businesses Are Not Always Small in "IMPACT"

[Fragrance1122]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

[DiMarxist]

Economy is the total setup of all economic activities in a state or country, so what we consider as small business play a very key role in the economic strength of each country. These so called big business are built upon the successes of small business. In terms of direct employment of labour small and medium scale businesses help reduce unemployment as they directly support the labour market, because they are the first employer of labour in every economy around the world.

In developed economies around the world, government takes small and medium scale enterpriceses very seriously because of the role that they play in the economy. In terms of encouraging small scale business, acriss the world goverement has to creates the right avenue so that these bussineses will mot suffer.

Taxation is a big problem especially in developing countries to the growth of small scale businesses because, in a situation where there are no proper taxing system, thereby leading to multiple taxing on these small businesses then you are sure that such business's will definitely struggle going forward. Government should be intentional about developing small scale businesses because that is the life wire of every economy.

[Ndabagi01]

However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

Small business are backbone of many nations and any nation that empowers their people into making their business to boost will foster a more sustainable economy for the future. Small business enterprise are not suppose to be neglected, they need to be empowered the more and that’s how you boost small scale business and partnerships in a country. When small business are enriched, they tend to have this cohesion for growth together and it will also push away citizens to not engage in illegal activities. The other big challenges faced by small businesses like this are what governments can help intervene and make it more efficient for them.

[Silverstonez]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

All the big companies or businesses we see today started from small before they became what they are today, just as you stated,  small businesses also play a vital role in every economy because they contribute to economic growth, they creat employment, drive innovation and also support local communities.

Apart from the challenges you mentioned they also face limited access to marketing and technology, poor infrastructure and high operating costs,  therefore, government should support small businesses, as a matter of fact the government is not helping small businesses at all.

[Ziskinberg]

To keep the economic growth and stability of the community, the government should continue to support small scale businesses through financial aid in terms of loans and easy registration and licensing so that these business owners will be more motivated to drive local job creation and continue to provide  the people reasonable goods and services. This way, they don't just make their own business profitable but they also serve the people with fulfillment and satisfaction.

However, there might be challenges because the competition is tight in the market, that's why they have to do their business the right way. And make the biggest room for customer's satisfaction, next is their business high profitability.

[Moreno233]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

Most responsible governments rollout interventions to support Small and Medium scale Enterprises (SME). One of the notable ways they do that is through soft loans, grants and even trainings. The reason they do this is because they understand their importance in terms of job creation and driving the economy. Those are the businesses that impact the low income earners who are always in majority in every country. It is only a government that do not care about their citizens that will ignore this important sector of the economy.

[nara1892]

Obviously if the government can help or support small businesses then it would be a good move, because with this it will be able to make most people happy whether this is a big or small action but the positive impact will look big, I agree that the government should facilitate all the things needed by small entrepreneurs such as loans, where the business is run and other things, the community will certainly be very happy.

But on the other hand, the problem is that sometimes the government ignores the lower middle class people who should be paid more attention to the progress of community stability, sometimes even the government makes it difficult for example in terms of licensing, even though what this community does can create new jobs.

[knuckey]

Everyone definitely needs each other, big companies sell goods to small businesses, small businesses sell to consumers, the government should reduce taxes for small businesses, but it doesn't affect big companies, there's not much that can be done for small business owners because it's impossible for the government to regulate everything, the best thing as I said is to reduce taxes for them and reduce interest on loans

[Botnake]

The government's support should not matter whether the business is big or small. But most of them, big businesses are more prioritized than the small ones because they bring bigger revenues to the government when the government itself should make a fair and balance treatment.

But you know what? Without small  businesses, I don't think big businesses will come to exist as majority of them still start from being small and when people patronize them and give them all out support, that's when they start to expand and form into a bigger business. There is no big business without a small one. That is why the government should not be biased, as much as they support the big ones, then the more they should show support to the starting ones as they will be the future bug businesses in the market.

[MRY]

The government's support should not matter whether the business is big or small. But most of them, big businesses are more prioritized than the small ones because they bring bigger revenues to the government when the government itself should make a fair and balance treatment.

But you know what? Without small  businesses, I don't think big businesses will come to exist as majority of them still start from being small and when people patronize them and give them all out support, that's when they start to expand and form into a bigger business. There is no big business without a small one. That is why the government should not be biased, as much as they support the big ones, then the more they should show support to the starting ones as they will be the future bug businesses in the market.

It is true that preference of the authorities towards big businesses is usually influenced by high contribution to taxes as well as high level of employment. This favoritism can choke the startup economy, the backbone of the national economy as a whole.

It is imperative to provide equal stimulus to the small businesses in a way that guarantees the focus of industrial sector in future. All conglomerate entities began as micro-sized enterprises and therefore the building of capital early in life guarantees the development of a healthy business pattern, free of market monopolies.

[Accardo]

It is imperative to provide equal stimulus to the small businesses in a way that guarantees the focus of industrial sector in future. All conglomerate entities began as micro-sized enterprises and therefore the building of capital early in life guarantees the development of a healthy business pattern, free of market monopolies.

Small businesses are limited by market monopoly, because the government in almost every nation give high supports to big companies, and allow the small enterprises suffer huge debts and lesser recognition. Opportunities are also lost from the construction of a monopolized market, ideas of most start ups get buried or sold to already established companies to raise funds.

Silicon Valley is a typical example of a monopolized market structure, messaging apps like Instagram, whatsapp etc were of small beginning, and a unique plan of growth, but Zuckerberg came up with offers too big to reject to the owners that they had to sell their ideas and move on to something new. Today one company has monopolized all major messaging apps, leaving users with poor diversity in user experience.

[noorman0]

Does "betrayal" count as an external obstacle? Micro-enterprises are sometimes not thoroughly prepared because they view the venture merely as "seeking an opportunity," even though they eventually bring others on board to scale up the business.
In my country, access to capital is actually quite easy, and a common sign that an SME is growing is when it starts hiring people from the local community; however, some businesses face setbacks due to workforce management issues.

[jcojci]

Governments should do more to support small businesses but the problem is governments still underestimating small businesses. They seems make it difficult for small businesses, from higher taxes, issues with permits, and others.

Small businesses are difficult to survive among the current situation, not to mention about the raw material that they need which can cost them higher. Governments support and help them grow, small businesses can become big and also help other small businesses

That help the economy grow, maybe not fast but there will be a change for the nation. If that is not a nation, maybe for the city so people in that city can feels the change.

[stadus]

That support really depends on which country you're talking about.

In our country, there are government programs that support small businesses, like offering loans with low interest, but that's mostly it. When it comes to regulations and requirements, they're still very strict, and taxes are high as usual.

So running a business these days is really challenging, you need to be very smart with how you manage everything if you really want to survive and succeed.
Government will make money from taxes no matter what.

[SatoPrincess]

Of course! I think it’s very important for governments to support SMEs and startups. If you are focused on nation building, you cannot ignore small businesses. However each country has their own unique ways of encouraging small businesses. In my country, small businesses find it difficult to scale and compete with the big companies because they either don’t have the money or systems to move their business to the next level.

[Tonimez]

- Limited access to loans

Small and medium businesses around the globe deserves to have good financial support from both governments and financial institutions. However, many schemes designed to help these small businesses to grow always end up in papers without full implementation. It's not that no provision is made to give loans to these growing businesses, but the loan implementation is not always effective or they contain some level of bottle necks that makes it difficult for these business owners including provision of  collaterals for the loan of which they don't usually meet up with this demand. Some of these loan schemes get hijacked and sold to people that do not need it. So in my own opinion, many governments have loans for these growing businesses, but corruption doesn't allow it get to the target businesses.

- Higher taxes

Taxation has killed many dream businesses. If the government can device a formal tax rule that absents This small businesses from tax or at least minimise this tax rate, it will help these businesses to grow. It's all government duty and still goes down to policies and enforcement.

- Tough competition from big companies

There's competitions everywhere. It's not only competing with big companies, it also has ground level competitions where it has co-small business to deal with. So a person going into business should already understand the role of competition in business development and guard his heart against giving up easily Because each business that closes means more unemployment and vices in the society.

[goldkingcoiner]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

Supporting? That sounds like another way of saying "investing into".

Personally, I would be very careful of investing into small businesses. Most of them tend to fail and they are very easy to start. I am guessing that the government sees it in a very similar fashion, so from a perspective of risk to reward, small businesses cannot be reliably propped up by any kind of government support.

As far as I know, small businesses pay lower taxes. So I would not say taxes are a challenge.



 

[Fragrance1122]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

Supporting? That sounds like another way of saying "investing into".

Personally, I would be very careful of investing into small businesses. Most of them tend to fail and they are very easy to start. I am guessing that the government sees it in a very similar fashion, so from a perspective of risk to reward, small businesses cannot be reliably propped up by any kind of government support.

As far as I know, small businesses pay lower taxes. So I would not say taxes are a challenge.



 

Support doesn't mean that government ought to write the blank checks instead it means better access to simpler regulations and loan guarantees and simply to lower the barriers. The big corporation can not run every main and mini street.

If we don't support small businesses , who will fill the gap?
It is obvious that big chains and other giants will fill the gap. And if small businesses disappear ,jobs will become fewer and less flexible and we will have less choice.

[crwth]

As the other members say, it's essential to the economy. I think that there would be more employment just because of that, and the economy could grow because of it.

For me, if I were to start a small business, I would focus on innovation and entrepreneurship that would really test the current business model or have new products. I think that's a great way to go mainstream and help the economy.
^{(It usually starts with the startups)}

[Taricoins]

Small businesses like restaurants, local shops, and other small enterprises play a huge role in every economy.
Individually they may seem small, but together they create jobs and keep the economy running. That’s why they are often called the "backbone of the economy".
However, these businesses often face big challenges like
- Limited access to loans
- Higher taxes
- Tough competition from big companies

This raises an important question: Should governments do more to support small businesses?

Whether Government supports local or small business ventures or not, small businesses will always pop up, the burden will only be passed on the final consumer, but still for my country, they're alot of government incentives focus on helping smaller businesses flourish. Almost all the challenges brought up are low key important to the economy of a particular place .