Essay on The Basic Types Of Business

875 Words Mar 7th, 2016 4 Pages
n our world today there are two basic types of businesses. Businesses that are locally owned and corporations. Corporations first appeared in America around 1870 when men with men like Andrew Carnegie and John D. Rockefeller forever changed business in the United States. Before this time, locally owned or small family businesses were the norm. In today’s business world, however, corporations far outnumber small businesses. There are many differences between the two such as government assistance available, and perhaps the most important difference of how they impact the economy.

Entrepreneurs are hardworking, determined individuals. They have to be in order to start their own businesses, and continue to be in order to make that business thrive. The task of starting your own business is not an easy one, fortunately there is government assistance available to those individuals who own small businesses or seek to start one. These assistances include grants, guaranteed loans, and access to federal business contracts. The Small Business Association for example is an independent agency of the federal government that has assisted millions of businesses with things like loans, loan guarantees, and business contracts. They also provide workshops, counseling, low cost training and avocation on behalf of small businesses to the federal government and congress. (Small Business Administration) In addition, many of these government assistance programs like the Business Development Program…

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