Small Business Appraisal Essay Example | Topics and Well Written Essays - 3000 words

Small Business Appraisal - Essay Example However, there have been a number of Indian start ups in the domain, with quite a few bigger Indian business houses too throwing their hat in the fray. One of the most prominent start ups in foods and services retailing domain is Lite Bite Foods (LBF). LBF operates in the high growth segment of Quick Dining Restaurants (QDR) and Quick Restaurants (QR). It was founded by a group of High Networth Individuals and industry professionals, and has been funded by an Institutional Venture Capital firm. The firm has entered into strategic tie ups with a number of well known food brands, and is presently in the roll out phase. As per the company website, it already about half million square feet of retailing space under is management and is aggressively looking at adding more space. This small business was started to cater the need for fast food in Indian population. In the given project, the business as well as management of the business will be discussed after undertaking the theory of small business and entrepreneurship. ... ble for developing small businesses which were started by a single person, later on other family members like sons, relatives and friends might join with the owner which results in increase in the size of business. Many famous multinational business of today had started as a small business by a single owner. These examples act as motivations for millions of people to start their own small business. Even today the small business plays a vital role in gross domestic production in developed countries like US. As per a report published in September 2010, the multinational companies in US buy goods and services from more than 6,000 American small businesses that amount to $3 billion. This represents approximately 24 percent of the total buying done in US. Thus, these small enterprises are important partners of the US multinational companies. The government policies of US are also concerned for development of small business in America. As for example, the resent agreement of $ 1 billion fo r increasing new export by US firms will boost demand for goods and services and this will benefit the SMEs. As per the data, the small businesses are responsible for 99.7 percent that is $29.6 million business in US during 2008. Almost 49.6 percent of total payroll employment done in US is offered by small business. The young small business are important for creating new jobs as small business within the age of two years are accounted for creating 25 percent of new jobs in last few years (Business Roundtable, 2010, p.1-2). Not just in developed nations, even in emerging nations, the small businesses are important for the economy like China and India. There are several factors that influence small business growth in these markets. Among these factors, socio-economic condition, availability