Question

Definition of micro small and medium enterprise and its features

Answer 1

Answer:

Meaning of Small Business Enterprises:

Small business may be defined in various ways e.g. in terms of investment, number of persons employed, volume of output and sales, technique of production etc.

Explanation:

Lower Revenue and Profitability

Smaller Teams of Employees

Small Market Area

Sole or Partnership Ownership and Taxes

Limited Area of Fewer Locations

Answer 2

Explanation:

A positive aspect of increased globalization for a small business is they can often have a greater impact with their product or 'message'. A paving stone to globalization is the efficient connectivity of businesses and consumers worldwide by communications (internet) and shipping routes (cargo flights).

• ·Long-term thinking, perspectives
• ·Stability
• ·No pressure for short-term success
• ·High identification with the business, stable culture
• ·High commitment

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