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Motivations For Starting A Small Business

Motivations for Starting a Small Business

Starting a small business is a big challenge! However it can also prove very rewarding. Paper Masters custom writes research on the motivations for starting a small business. You can learn a tremendous amount from the stories of other small business owners who have started a small business of their own. Have Paper Masters custom write you their stories in a research project or business case study today.

Every small business owner has their own story as to why they decided to open their own small business; from flexibility and autonomy to a change in lifestyle and financial reasons. Many have been operating for only a few months, whilst others have been operating for over 20 years. How is each owner operating their own business? And is it as successful as they had anticipated?

Your task is to research the different motivations for starting a small business, and they key decisions owners must make when operating their own small business.

How to Organize Research for a Report on Starting a Small Business

Begin with the Methodology:

  • Survey at least ten small business operators. Organize, collate and analyze these responses.
  • Critically evaluate the responses from your surveys.
  • Critically review trade, professional and research journals, books and other relevant publications
  • Identify suggestions by government, trade and professional organizations and small business operators themselves in regards to:
    • the different motivations for starting a small business
    • key decisions owners must make when operating their own small business

Critically evaluate suggestions and opinions.

  1. Prepare a brief report analyzing your survey responses. This will require you to perform simple calculations in respect of the data (i.e. means, medians). The report should not exceed 2 printed pages (plus an appendix for the survey responses and relevant printouts of your analysis)
  2. Complete the research paper requirements on starting a small business.
  3. Ensure that the research paper includes an introduction, a body and a conclusion.

Questions to Ask for Small Business

  1. What motivated you to start your own small business?
    1. Lifestyle
    2. Flexibility
    3. Money
    4. Redundancy
    5. Autonomy
    6. Could not find other employment
    7. Other - please specify
  2. What structure does your business operate under?
    1. Sole trade
    2. Partnership
    3. Company
    4. Trust
  3. What sector of the economy best describes your business?
    1. Retailing
    2. Manufacturing
    3. Import and distribution
    4. Exporting
    5. On-line sales and distribution
    6. Trade related
    7. Professional services
  4. What is your age?
  5. How long have you been in small business?
    1. Less than 12 months
    2. 1 year to 5 years
    3. 6 years to 10 years
    4. 11 years to 20 years
    5. More than 20 years
  6. How many hours (on average per week) do you work in your business?
    1. Less than 20 hours
    2. Between 20 to 29 hours
    3. Between 30 and 39 hours
    4. Between 40 to 49 hours
    5. Between 50 to 59 hours
    6. More than 60 hours per week
  7. How many employees (full-time equivalent) does your business employ?
  8. When do you plan to retire or sell your business?
  9. How do you maintain and update your accounting/bookkeeping requirements?
    1. Manually
    2. Spreadsheets - such as excel
    3. ATO provided software
    4. MYOB, Quicken etc.
    5. Custom designed software
  10. Which of the following financial statements/analysis techniques do you use in reviewing the performance of your business?
    1. Balance sheet
    2. Income statement
    3. Statement of cash flows
    4. Ratio analysis
    5. Break-even analysis
    6. Balanced scorecard
    7. Other - please specify
  11. Which of the following sources of financing does/has your business use(d)?
    1. Personal savings
    2. Friends and family members
    3. Angels
    4. Partners
    5. Venture capital
    6. Bank loan
    7. Overdraft facility
    8. Sale of equity in the business
  12. Which of the following strategic planning items does your business use or has used?
    1. SWOT analysis
    2. Budgeting - income, expenses and cash flow
    3. Business plan
    4. Balanced scorecard
    5. Other - please specify
  13. How do you motivate your employees?
    1. Higher than average pay
    2. Performance based bonuses
    3. Providing a friendly work environment
    4. Providing flexible work hours
    5. Providing regular feedback/praise and encouragement
    6. They should be happy to have a job. I do not need to motivate them
  14. How satisfied are you with your business success?
    1. Very satisfied
    2. Satisfied
    3. Not satisfied
  15. Why do you have this level of satisfaction? Explain

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