How Internet Affects Small Businesses Essay

4103 words - 16 pages

ISSUE*HOW INTERNET TECHNOLOGY AFFECTS SMALL BUSINESSESKEY POINTS*What is a small business?oIts importance in the overall economyoTraditional Management of small business*Evolution of Internet*Internet and Small BusinessesoConditions for Small Business to Succeed in the Internet Era"XIdentification of Opportunities"XStrong Vision"XTiming"XThink Globally"XEntertaining Value of the Web Experience"XCustomer ServiceoAdvantages of using Internet in Small Businesses"XReduction of Communication Costs"XReduction of marketing costs and finding new marketing strategies"XExpand access to informationINTRODUCTIONThe purpose of this paper is to explain what small business are, their importance in today's expanding economy and understanding how changing technology affects their operations. In the last years, the internet has brought small businesses a lot of innovative procedures that can be used to improve products and services, reduce costs and also have access to more information.My special interest in this topic is due to the important role of small business in my home country economy, Ecuador. Although small businesses constitute the largest part of the economy (most of them are family owned enterprises), the advantages of internet as a business tool have not been developed yet. The use of internet is mainly limited to entertainment and researching purposes but definitely there is still a lot to learn about it can be used for business purposes.This paper id divided into three main parts. The first part gives details about what is consider being a small business, the organizations that regulate small business and the way they are measured; also, defines the importance of small businesses in the U.S. economy; and finally, determines how small business are traditionally managed. The second part is concerned about the evolution of internet and its improvements. The third part is the core of the paper because it links internet and small businesses and they way internet can be used as at advantageous tool in today's businesses.1.SMALL BUSINESS1.1.What is a small business?The Small Business Act states that a small business concern is "one that is independently owned and operated and which is not dominant in its field of operation." The law also states that in determining what constitutes a small business, the definition will vary from industry to industry to reflect industry differences accurately.In the Small Business Act of July 30, 1953, Congress created the Small Business Administration (SBA), whose function was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulated that the SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property to maintain and strengthen the overall economy of the Nation.The Small Business Administration's Small Business Size Regulations implement the Small Business Act's mandate to SBA. In order to establish size...

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