Features

Published on May 24th, 2017 | by Millennium Magazine Staff

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For Many, Small Business Is Close To Home

Small businesses and entrepreneurs are top of the list for helping the economic health of their own communities and the U.S. in general.

(NAPSI)—If you are like many Americans, you either own or work for a small business. Small businesses are a big part of the country’s economy, employing 56.1 million members of the nation’s private workforce and creating two out of every three new jobs every year.

“Small businesses have an enormous role to play in keeping the engine of the economy and innovation churning,” said Ruth Veloria, executive dean for University of Phoenix. “This is true on every level, from supporting the national economy to the communities and individuals hard at work in it. On a local level, small businesses build personal connections, encourage a sense of community, and promote a high level of quality and customer service.”

A Revealing Survey

Recently, University of Phoenix created a U.S. survey of registered voters conducted by Morning Consult, about attitudes toward small businesses.

The findings show how important small businesses are to these respondents. For example:

• Sixty-eight percent say small businesses are very important to their community.

• Fifty-seven percent have a parent, immediate family member or close friend who has either previously owned or currently owns a small business.

• Eighty-nine percent say that small businesses improve the quality of life in their local community.

• Many buy locally to support small businesses. In fact, 94 percent say they shop locally at least some of the time.

• Sixty-eight percent say small businesses are very important to the health of the economy.

• Fifty-three percent say entrepreneurs are very important to the health of the economy.

What To Ask Yourself

If you’re thinking of joining the ranks of America’s entrepreneurs, the experts at the U.S. Small Business Administration suggest you first ask yourself these questions: Why am I starting a business? What kind of business do I want? Am I prepared to spend the time and money needed to get my business started? How long do I have until I start making a profit? Who is my competition? How will I manage my business? Knowing the answers can help your startup last long.

Where To Turn

One route to creating and maintaining a small business is through higher education. It helps prepare individuals to turn an idea into a marketable and viable product, business or organization. The School of Business at University of Phoenix, for example, creates an environment for students that allows them to test ideas, take risks and grow.

One program that appeals to entrepreneurs is a Bachelor of Science in Business with a Small Business and Entrepreneurship Certificate. The School of Business also offers professional development and noncredit courses for entrepreneurs that will help them learn the skills needed to start and manage a business. Some courses to consider include financial management, marketing, and human resource management. Courses like these can help you prepare a business plan, promote your product or service, and stay competitive in the business world.

Learn More

For more information about this program, including on-time completion rates, the median debt incurred by students who completed this program, and other important information, please visit www.phoenix.edu/colleges_divisions/business.

For more information about University of Phoenix, please visit www.phoenix.edu.

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