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With ail ever increasing desire from many citizens to
generate additional sources of income for the family, there haa
been a greater instance of new businesses started than ever
, before. According to the most current issue of 7hr /fee/
Economut, almost three-quartere of a million charters were
issued for new businesses in the United States during 1985.
Hi is is over twice what was issued ten years ago.
In addition to these business charters, many sole
proprietorships and partnership operations were started also.
Most of these new business ventures would be considered
small businesses, often with the family members being the
only "employees."
Since the Extension Service receives many requests from
both urban citizens as well as agricultural producers for
- information about sources of additional income, and since
there has been such an increase in the number of small
businesses during recent years, it is evident that many people
feel that these small business ventures could be profitable.
Even though it may sound good to start with, there are
many things that should be considered before entering such a
venture. First, consider that almost half of all new businesses
fail within the rust two years. In addition, only one business in
five wfll remain in operation for ten years.
Of the businesses that do fail, it is estimated that 90 percent
are not able to continue because of poor management. This
means that any business venture should be analyzed carefully
before start up. It is not enough to have a good knowledge of a'
product or be able to offer good service, management
experience and aptitude must also be acquired.
D-1 _iz ?? a a l - I ? ? u #?
inriurr attempting to Stan, a new ousiness, you snouia Iirei
ask yourself if this is really what you would like to be involved
in? Do you have leadership capabilities? Do you have a lot of
initiative? Do you assume responsibility and have a good
attitude toward others? Are you organized? Are you willing to
devote whatever is necessary to make this business a success?
Your answers to these questions would probably be "yes" or
you would not have considered this venture in (he first place.
But if your answer to any of these questions is "no," you
should probably give up this idea completely since your
chances of success would be very low.
Once you have made the decision to enter into a new
business venture, no matter how small, it is wise to develop a
well laid-out plan. Don't rely on yourself for all the input into
this plan. Visit with others that are already involved in a
similar enterprise. Give considerable attention to what they
identify as problems. Do not assume that you will be able to
handle these problems much more effectively than others
simply because you have different ideas.
This planning process would probably actually involve
several smaller plans dealing with different topics such as a
plan for management, a plan for finances, a plan for product
development, a plan for merchandising, and if necessary, a
plan for personnel. All of these plans should be coordinated
together to form a major plan that can be carried out within the
limitations of factors such as capital, time, demand, trends,
and local regulations.
Once a plan is developed that can be reasonably followed,
and the effort is made to start this business, always be aware
that the main factor to consider in the success of your business
is management The most important person in a business is
the owner-manager, and it will be his full responsibility to see
that the business is successful.
there are many opportunities in this area for the operation
of a small business. First, thoughts are often to a business that
will supply to a local demand. These are easy to start, but the
competition is fierce and success is hard. On the other hand,
there are often opportunities for businesses that address the
demands that have not yet been identified. These are often ,
hard to start because the market has to be developed which /
could take a long time. But these are the businesses that can /
provide the greatest satisfaction. ?
When we speak of the need for employment opportunities in I
this area, many of us consider major industries moving in that^
will employ hundreds of local citizens. The number of
employment opportunities resulting from major businesses
that are developing complete new operations is rather small
when compared to the number of employment opportunities
offered by new small business ventures and expansion of
existing businesses.
It really doesn't matter if the dollars that are circulated
around our communities come from large businesses or from
independent small businesses, as long as they are available as
a result of supplying a product or service that is needed and
enjoyed by everyone. What we do enjoy in this *
county is a situation of a good mix of major industry as well as
small and independent businesses that provide unlimited
opportunities for us all.
I
Winston NASCAR Racing
Kind of hard to figure out who is doing what this year on the
race circuit Fords are breaking records on the pole, but can't
seem to do much with the Chevies after the green flag is
waved. And guess who has the winning combo? Yep, Dale
Earnhardt Dale seems to have trouble qualifying high, but.
practice and rece time he is too tough to tame. The last two
races he has come from the middle of the pack about the
halfway point and seems untouchable.
Bill Elliott and his Ford did do some challenging around the
100 lap but only for about 15 laps then settled back to finish
fourth. This to him is much better than usual. Elliott is
normally dominating on the super speedways but not too much
competition on short tracks. He has spent a lot of the off
season trying to get a car that will be competitive on the short
tracks and two lop five finishes on the two short track races
this season is his best showing so tar. Unfortunately for
Elliott, Earnhardt won both of those races and with his top ten -
finish at Daytona he is bade on top of the Winston pointa race
with Elliott second.
Reports have it that next week's race might belong to
Earnhardt also as his practice times have been quite a few
mfles per hour faster than the track record. So come Atlanta
next week Elliott might have himself quite a rece from the Tar
Heel driver.
We are hoping for a safe rece at Atlanta. Not really hoping
for a new winner just a safe rece.
More Later.
THE ROVER
?
Road Race On
May 9
' Saturday. May 9.1907 at 9L Paula Hifh School located
?I-M and SOL
1 Mfla Youth Rub begin* at 8:S0 a.m.
il MOM begins at 9*0 t.m.
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For own Information, please caiURobeson County
Reiuatioa and Park Commission at 671-3090.
*
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East Third Street, Pembroke
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RIB END
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