Small business success: The roles planning, location, and government play in the entrepreneurship development.

摘要

In today's world of challenging economic climate, changes in technology, and demography it is more important than ever for small businesses to be prepared. Business planning is a proven tool to help streamline business growth. Michael Porter's Diamond Model (Porter, 1987) can be used to determine investment success based on the environment in which a business will be located when developing the strategic plan. This and other effective tools such as Gradational Theory and Balanced Score Cards are effective tools for small business leadership. Small Businesses need to plan, use effective productive methods, and take advantage of a business friendly location and governmental policies to survive and grow. Government policies encourage business investment and growth through agencies such as The New York Empire Zone, Georgia Entrepreneur Friendly Program, Georgia's Mentor Protege Program, and various local, regional, and national government contracts.;This paper probes the importance of strategic planning, its role in the development of minority owned businesses, and the importance of government support. It is important that information is readily available to small minority-owned business for increased access to resources and improved planning techniques that will make them sustainable and successful. Having more successful small businesses will lead to greater employment and economic growth. Because of the economic rewards that spin off from the success of small businesses it is vital for policy makers to provide a competitive environment for growth and investment.