Discuss the various distinctive features of small business .
Answers
Answer:
Characteristics of Small Scale Industries
Ownership: They have a single owner. ... Management: All the management works are controlled by the owner. Limited Reach: They have restricted area of operation. So they may be a local shop or an industry located in one area.
Answer:
A business which functions on a small scale level involves less capital investment, less number of labour and fewer machines to operate is known as a small business.
Small scale Industries or small business are the type of industries that produces goods and services on a small scale. These industries play an important role in the economic development of a country. The owner invests once on machinery, industries, and plants, or take is a lease or hire purchase. These industries do not invest more than one crore. Few examples of small-scale industries are paper, toothpick, pen, bakeries, candles, local chocolate, etc., industries and are mostly settled in an urban area as a separate unit.
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