Nature of Small Business Flashcards
is one which is “ independently owned and operated and which is not dominant in its field of operation.
Small Business
means ownership is by a private individual, a partnership, or a corporation.
Independently Owned
It indicates that a small business does not control a sizeable share of its market .
Term not dominant
defines a small enterprise as “ any business activity or enterprise engaged in industry, agribusiness activity or services , whether single proprietorship, cooperative, partnership.
Magna Carta for Small Enterprise (RA 6977)
What is RA 6977?
Magna Carta for Small Enterprise
The Magna Carta for Small Enterprise are mostly known as?
RA 6977
Types of small businesses
Manufacturing
Service
Wholesaling
Retailing
General construction firms
It is one involved in converting raw materials into products needed by society.
Manufacturing Business
are those that provide services in one way or another.
Service Business
those that provide service to other business.
Business service
those that provide service to the person.
Personal services
those that provide repair services to owners of various machinery and appliances.
Repair service
Types of Service Businesses
Business services
Personal services
Repair services
Entertainment and recreation
Hotels and motels
Education services
It refers to the activities of those persons or establishments which sell to retailers and other merchants
Wholesaling
It covers all of the activities involved in the sale of goods and services to the final consumers.
Retailing
