The prospects of small business are connected with the understanding of the fact that it occupies one of two niches in the economy. The first of these is the launch of new business areas. The second niche is assistance to medium, but most often large business. In our conditions, about 10-20% of small businesses work in the first niche. In the second niche – 80-90% of small businesses.
Small Business Perspectives in the 21st Century
In other words, the vast majority of small businesses work as assistants to big business and, accordingly, depend on it. For example, car services are assistants to car manufacturers and their spare parts. The field of trade is assistants to manufacturers of goods. Travel agencies are assistants to tour Continue reading
The principle of the invisible hand of the market is a term coined by the Scottish economist and one of the founders of modern economic theory, Adam Smith, to explain the mysterious processes in the market. He realized that the behavior of buyers and sellers in the market is determined not only by their desires, but also by some third party that is not visible.
The principle of the invisible hand of the market
For the reason that this side is not visible and clearly has to do with the market, it was called the “invisible hand of the market.” This third party Continue reading
Free marketing research is a reality accessible to everyone. The importance of marketing research is that it is the main source of complete and objective market information. You can rely on this information when making decisions, when creating advertising materials, when developing goods or services, and in many other cases.
Quality free marketing research
In principle, you can of course run a business and do all of the above without marketing research, relying only on intuition. Intuition is a good adviser, but it does not give specific numbers, but indicates only directions. I really want to know the numbers, because the numbers allow us to calculate Continue reading