Show I oi Time For iP 01 of i Class CI ass I y p f STATE ST-k ST By cinco CILICO COLLEGE COLLEGES I IH H I Jo I I- I z H SMALL s S BUSINESS 1 v Ninety eight per cent celt of the firms I operating In fn the United States today I Iare are small businesses Of ot the I 1939 business units In this country In some haw had fewer than fifty I employees business units did I Inot but were owned and not employ anyone operated by an Individual person and ald I business units had from one oneto on oneto I I Ito to three employees business business' I units had from four to seven employees 1 business units had from eight to nineteen employees and busi busi- business business I ness ness units had from twenty to forty- forty bUSI 1 nIno employees Small business produces a n substantial share of our total goods and services and provides a substantial proportion I of total employment In the last Federal Census of Business small businesses ac accounted ae- ae accounted counted for about thirty five per cent of the total dollar volume of the nations business and about forty-five forty per cent of the total number of ot people engaged In business either cither as employers or em em- employees employees The growth of big business In the thelast thelast thelast last fifty years undoubtedly has taken place in part at the expense of small concerns especially those of ot Intermediate ato ate size Some large firms undoubtedly have taken unfair advantage of smaller competitors On the ibe other hand the therIse therise rIse of ot somo some large largo Industries like that j pf Qt the automobile for example has created new opportunities for small businesses as supply distributors and I service units of or every kind The Tho same sameI can be bo said of the tho radio and ald many other I Industries The conclusion Is clear that small business In terms of ot numbers I opportunities and markets has hns been and still stUl Is a n altal vital vita factor In the nations business I Statistics abundantly show the funda funda- fundamental I mental strength and durability of small I business The Committee for Economic I Development Research Report gives fig fig- figures figurea ures urea on this point In the year before be rc the war annual bankruptcies ran less lessI than one per cent of ot the total number I of small business firms Small business to remain sound and an anto d to grow has h to solve problems which ch fall f under one of the following head head- headIngs headIngs Ings tags Management Financing Taxation and Competitive Opportunity In each eat h of these areas the business man himself t can do much on his own Initiative and andin andIn an anIn d in cooperation with his fellow tellow enter enter- who have o tho same common commo n problems But there are limits to the Experience and Information that a small business enterpriser can bring to bear bearon bearon bearon on his problems There are arc some very unfavorable conditions which are out out- outside outside outside side his control Varied Information re resources re- re resources resources I sources both In and out of ot his business I need to be bo mobilized and some crucial factors In the climate for business need to be changed Tho The resourcefulness that can be ac acquired aC- aC aCquired acquired through a good general education education tion in 11 learning how to think and how bow to find Information is the best asset that can be provided the potential small business man Our colleges are doing much to contribute to the American business system They are providing In Instruction In- In Instruction instruction in certain specific skills and assisting the tho young potential business businessman man to new horizons through research and study problems ties and colleges are giving Increased ased at attention at- at attention attention to courses and activities dealing with specific needs of small ent Information Is gathered for almost every kind of ot business and the guidance of experts In such matters as accounting merchandising management and the like iko are being offered o offered to the potential business man There are then ample opportunities for the young person interested In Interested in- in interested In establishing his own busi busi- business b sl- sl ness But Bout If It possible he should attend a a. college collego offering a business education Such a college should develop the fac- fac factors factors tors ors which Influence the decision of or the IndivIdual to go Into business to analyze tho ho specific problems he faces and to find ind out what determines success or failure With this education behind him I and the opportunities ahead the am am- ambitious ambitious young yo person need have no fear tear i of ot the future PROFESSOR RALPH H. H PRYOR I Commerce Department chico State College California I |