¶ … particular types of businesses (for example, convenience stores or auto dealers), Federated emphasizes macrosegmentation. To further sharpen strategy, suggest possible ways that particular macrosegments could be broken down further into meaningful microsegments.
Different businesses have different needs. For example, jewelers have a specific need to insure high-risk goods which can be stolen and thus need casualty insurance to protect these vital assets; auto dealers may likewise need to insure their cars which may become damaged in a hailstorm or flood. In contrast, businesses dependent upon the labor of workers in high-risk occupations such as machine shops and building contractors would need to have insurance for their employee's on-the-job hazards in the form of worker's compensation, a specific kind of causality insurance. "Property casualty insurance can also be called property liability insurance. Whatever you call it, what it does is help protect you against financial losses that come as a result of being held legally liable for an accident that causes damage to another person or another person's belongings" ("What is property casualty insurance," All State).
Businesses which employ a large sales force of permanent employees (including administrative staff and salespersons) may wish to offer competitive benefits packages to attract high-quality talent. Thus some small businesses are more concerned with protecting their property; others with protecting their workers; and still others with getting low-cost...
Small Business Idea When starting a new company, there are a number of different forms the business can take. It is important to understand the differences between the forms, including their advantages and disadvantages. The main forms for a new small business are sole proprietorship, partnership, C-corporation and S-corporation. The small business that is being considered is a gourmet food truck that will sell the finest Southern barbeque. The truck will
Video Tape and Disc Rental Rentals Catalog/Mail Order Retailing Health and Personal Care Stores Retailing Table 2: Comparisons of Most Risky Small Business (BizStats.com, cited by Telberg, 2003) An Engine of Economic Growth More and more, Craig, Jackson and Thomson (2007) argue, policymakers perceive the small business sector "as a potential engine of economic growth. Policies to promote small businesses include tax relief, direct subsidies, and indirect subsidies through government lending programs." These authors stress that encouraging lending
Venture capital is the money that businesses get from investors to start or continue a business. Ironically the advantages of a business plan are also correlated with some of the disadvantages of a business plan. For instance, a book entitled Under the Radar: Starting Your Net Business without Venture Capital, Venture capitalists often find that many business plans are too optimistic (Kling 2001). The book asserts that, Trying to obtain venture
The same goes for business-related periodicals and magazines. (Dratch 2008, p. 2) Mileage: Once again, this involves careful bookkeeping, but the deductions can add up. Keep a dated log of all business-related mileage, tolls, and parking costs. According to the IRS website, the 2009 IRS deduction rate for business-related mileage was 55 cents per mile. Travel, Entertainment, and Meals: For the small business, 100% of travel and entertainment expenses are deductible,
Small-Business Management & Entrepreneurship The fruition of many years of dreaming and planning will be realized through the opening of a restaurant in the Tri Cities area. Opening any business requires serious planning and calculations, yet the special needs of a restaurant are particular to the idea that many restaurants have gradual and long-term returns on investment. Start-up costs are often very significant with hard goods and food costs making up
Recovery From Disaster There can be occurrence of incidences in a small business that prevent the business from its normal operations. These incidences can be such as floods, fires or even serious malfunctioning of the computers or incidences of information security. It is the responsibility of business management to help the business recover from these incidences in the least time possible, with the least disruptions and minimal cost. Small business owners
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