Online Services Provides Many Profitable Business Opportunities

Small businesses are privately held corporations, partnerships, or singular ownerships which typically have fewer employees and / or less annual sales than a typical large corporation or business. Many of these businesses have no physical office buildings at all and do not maintain a chain of buildings for employees to work in. Some small business websites even operate entirely online. However, as most business owners know, there are many advantages to owning a small business compared to large businesses and corporations.

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Online Services Provides Many Profitable Business Opportunities

Small businesses are privately held corporations, partnerships, or singular ownerships which typically have fewer employees and / or less annual sales than a typical large corporation or business. Many of these businesses have no physical office buildings at all and do not maintain a chain of buildings for employees to work in. Some small business websites even operate entirely online. However, as most business owners know, there are many advantages to owning a small business compared to large businesses and corporations.

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Small businesses employ a lower percentage of its overall workforce. This is due to the fact that small businesses have fewer total employees than large businesses. This advantage is especially significant in this economy, as fewer people are working. In addition, because most employees of small businesses are independent contractors, businesses have a lower employee turnover rate.

Another advantage is that small businesses usually pay their employees a fraction of what larger corporations pay. Most employees in a small business are paid hourly and are entitled to a set amount of vacation time. The benefits provided by small businesses are often better than those provided by large corporations. This is because most small businesses have a smaller overhead charge and therefore are able to offer quality benefits such as paid sick leave, medical coverage, retirement plans, and so on.

In addition, a small business has the opportunity to provide goods and services that can compete with other companies in the marketplace. For instance, some businesses provide products and services that have a higher per-unit cost compared to similar products and services offered by large corporations. Because of these advantages and more, small businesses enjoy a high growth rate. A study conducted by a leading financial analyst indicated that the combined annual revenues of small businesses, including franchises, and home-based businesses are expected to reach nearly $60 billion by the year 2021.

A third advantage is that small business employment is not restricted to specific industries. For instance, there are thousands upon thousands of positions in the service industry available to individuals who are seeking part or full-time employment. Moreover, a number of individuals find employment opportunities in the health care and legal profession, as well as in education (e.g., teachers, doctors, accountants). Individuals also have a choice between working for one specific company or an array of companies that specialize in different fields (e.g., call centers, financial firms, and so on).

A fourth advantage is that a large number of people start out at the bottom and work their way up (usually through small business size operations). As a result, individuals with diverse backgrounds and experience can find work (e.g., sales representatives, technical specialists, marketing managers, etc.) regardless, of their past educational background and skills. Additionally, individuals with diverse backgrounds and experience are able to acquire the skills and knowledge needed to compete with individuals with advanced education and skills.

Finally, a fifth advantage is that a number of these same benefits apply to a large number of positions in the private sector. For instance, there are many individuals who enter the workforce with few skills and pursue a number of positions (e.g., cashiers, sales representatives, office staff) in order to acquire the skills and knowledge they need to rise to the top within their organization (e.g., in corporate management or in sales). In contrast, there are many people who lack the requisite skills (e.g., legal assistants) and pursue a large number of entry-level positions in the public sector (e.g., teachers, physicians, etc.). By virtue of the fact that there are numerous job titles, there is also the advantage that individuals can acquire skills (e.g., marketing, accounting, etc.) by participating in training programs (e.g., certificate programs, online education) that provide the skills and knowledge they require to rise to the top.

These five primary advantages for starting a small business make it far easier than most entrepreneurs realize. Interestingly, many entrepreneurs do not understand that they will need to purchase computer software designed to run their business (e.g., Microsoft Office, QuickBooks, etc.). But even after purchasing these specialized business software packages (many of which offer a number of unique features), it is important to note that even a small business needs to conduct business online. By providing online services such as website design, operation and maintenance, and online marketing and advertising (which will need to be conducted on a daily basis), a business will be able to remain profitable long after it has first started generating revenue.

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