chapter 11: influences in establishing SME Flashcards
how can an individual gain management experience
completing a managemen training course or by undertaking a management role within a bus
what are some skills of an individual’s rnage of experiences
- admin and bookkeeping
- sales presentation
- time management
- customer service
- computer applications
- management skills
- store presentation
- leadership skills
- independence
- being an employee
- ordering
- stock control
- organisational skills
what are some ways individuals can get education or training
unis, tafe and bus colleges offer courses in many bus and industry fields but may be expensive and take yrs. gov offer business enterprise centres offering
- start up advice
- bus growth menotring
- seminars
- bus plan assistance
- skills training
what motivates someoen to sme
motivated by the rewards they believe can be gained from establishing a bus, including both monetary and non-monetary rewards
eg
- capital gains
- contribution to society
- better lifestyle
- innovation
- profits
- being own boss ie independence
- overcome unemployment
- control
- accepting a challenge of overcoming obstacles
what are some qualities that an entrepreneur should have
- work well w/ ppl ie interpersonal skills
- setting realistic goals and attempts to acheive them
- takes risks
- motivated by acheivement
- confident
- desires repsonsibility
- emotionall stable
- strong drive, determination, persistence
- skilled organiser
- tolerates failure and able to recover
- seize new opps
how can an individuals cultural background influence their reason for establishing a bus
cultural influence can arise from a community’s tradition and beliefs (work ethic) eg thai person has a restaurant
textbooks words not mine
research on women in business
- women own approx 1/3 of all smallies operating in aus
- 33% rapid growth in women choosing to be self-employed
- mainly service orientated
- women own half of all home-based buses
- women setting up bus from home is the fastest growing sector of aus eco
- less external debt, are more profitable and earlier than men
sme is a multifaceted role thus can receive assistanec from gov & priv support agencies:
- trade associations
- fed, state and local gov deaprtments
- smallie association of aus and nz
- accountants
- solicitors
- aus chamber of commerce and industry
- tafe
-uni - other bus contacts
- community based sevrices
- ABS
- bus enterprise centre
- chambers of commerce
- networks
why are professional advisers beenficial and some egs
professionals remain objective and provide independent analysis of the organisation; also aware of the changes within legal, economic, and financial enviro
egs:
- accountants: valuable advice on all financial management issues and taxation obligations
- solicitors: info concerning bus formation/structures, registration, contracts, leases, partnership agreements, patents and legislation, changes in law
- bank managers: advice on financial services, sources of finance and basic bus management
- management consultants: more objective and view problems in unbiased manner; wsie to check their credentials and experience
what is ‘business connect’
organisation that aims to support smallies to start up, create jobs thru growth, help established smes become sustainalbe and increase bus confidence across NSW
aim:
- provide general and specialist bus advice
- promoting bus growth thru innovation, improvign resilience and boosting productivity
- supporting digital readiness
what is the boosting business innovation program
NSW gov invested $18 mill to program givign smallies access to research orgs to build strong local bus communities and stimulate eco growth
what does the federal gov offer to smallies
operates bus called business.gov.au that offers access to all gov info, assistance, forms, and services bus need eg department of foreign affairs and trade
what technological advice do gov agencies provide
digital business kits (DBK) - provide industry-specific info and resources to help SMEs and not-for-profit orgs engage in the digital community and take adv of the opps available thru digital tech
what can local council offer
advice on land zoning, assist with subsidised land and consider development applications
define competition
rivalry among buses that seek to satisfy a market
