Comparing Mom And Pop Shops

The term “small business” is a term that is often related to “mom & pop” shops, but what people don’t realize is that small businesses make up more than 99.7% of all employers (Hatten, 2012). In the service industry alone more than 71% of companies are small businesses. As it is true that most “mom & pop” shops are small businesses, some are just people who are self-employed, and some are entrepreneurs. Self-employed people can be entrepreneurs just as small business owners can, the difference between the two would “be the desire and ability for growth,” (Shelton, 2013). Small businesses make up a large portion of the revenue that goes into a community. It is not as easy as it seems, though. Running any business has its risks and rewards. …show more content…
With so many reforms with health care and even with paid time off or minimum wage, some businesses struggle to stay afloat. It can be said, though, that “experience is no guarantee of success,” (Small Business Trends, 2011). Being an entrepreneur means that one needs to keep ahead of the curve and always one step above everyone else to succeed. It is an art and a science (Small Business Trends, 2011). Business owners also need to know how to brand themselves so that their company will be recognizable to the consumer. Entrepreneurs are essential in today’s business world for any organization. Small businesses come in many varying forms such as the mom and pop shops on Main Street or even the small chain restaurant that is right around the corner. With each business, there are different types of ownership that are implemented such as partnerships or corporations, and each has its benefits and drawbacks. Knowing all of these things is important for a business owner so that they can stay one step ahead. Branding, entrepreneurship, and knowing when to implement change are all needed to make a business