I am so excited that my small business is opening tomorrow .
What kind of small business are you opening ?
It is a little restaurant in downtown .
Are all small businesses restaurants ?
No , a small business can be anything from a grocery store to a lawyer’s office .
So it is not defined by the kind of business it is .
No , a small business is defined mainly by how many people are employed .
What is the largest numbers of employees you can have ?
It varies by country , but in the United States , if you have less than 500 employees , you are considered a small business .
What are the advantages to owning a small business ?
I can be my own boss , make my own financial decisions , it costs less to start up and I will have a closer relationship with my customers .
But what are the disadvantages ?
There is a higher risk of failure if the owner does not prepare wisely , and bigger businesses can influence your success .
What happens if a bigger business moves in right across the street ?
My customers will either stay with me or go across the street .
But isn’t that what destroyed a lot of the small business in America ?
Yes , but that is why my restaurant is downtown , to stay away from the bigger businesses .
Where did you get the money to start your restaurant ?
I have been saving my money for five years to start it .
Is there any other way to get money to start up a small business ?
Yes , you can receive a grant from a private organization or a loan from a bank .
Is there anyone that can help me get a loan ?
The Small Business Administration in the United States has programs to help new owners secure loans for their small businesses .
I think I would like to open an ice cream shop .
You should ! Having a small business of your own is very rewarding !
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