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Showing posts with the label micro business

Small Business Start-Ups Create Economic Impact

Economic growth is important for cities, states, and nations. Research by Donald, et. al. (2009) helps decision-makers understand that a healthy balance between large and small business development puts economies on the right track to flourish while encouraging positive budget balances. Their study shows that the activity of business start ups foster growth not only in one state but also the surrounding states. Some businesses will succeed and others will fail but the economic activity of constant start ups is a revenue generator.  The U.S. Small Business Administration reports small business activity is one of the major engines to economic growth and creates a majority of new jobs. It is possible that smaller businesses that are entrepreneurial by nature engage in research and development that have an even larger impact on the economy (Acs and Plummer, 2005). Both jobs and innovation are needed to keep the economic engine running at ideal speeds.  There are a number of eco