Small entrepreneurship are difficult to run as they have to be well streamlined in order to make profits. Large establishments have many resources on hand both in terms of natural and financial and therefore can manage their show well.
Small business establishments have to compete with larger establishments. It is the survival of the fittest even in the business world. Those companies that can deliver the goods and services on time and are of high quality are able to win over the customers.
Small establishment require high quality entrepreneurship that can maximize their limited investments in order to ensure that their profits are high.
Why quality entrepreneurship for small businesses?
- Small establishments have to compete with larger set ups.
- Higher profits with minimal resources.
- Have to keep their cost expenditure at controlled levels.
- Cannot waste their financial and natural resources.
- Survival instinct. Unless and until they have quality entrepreneurship they cannot survive the competition.
What kind of qualities?
- Time bound delivery of services and goods.
- Willing to take risks.
Do only large establishments have quality entrepreneurship?
Generally, this is so. But many equally talented entrepreneurs are also very talented and manage to set up their own business establishments. They have the requisite qualifications and abilities to run the show well. It is much more difficult for them to set up business as they have to face competition with larger set ups.
The big business houses often begin as small establishments and grow into large set ups eventually. The contributions made by small quality entrepreneurship can lead to bigger set ups.
Quality entrepreneurship is essential for small business set ups. These have to maximize their resources for good profits.