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Essay / Managing a small business on the example of opening a construction company specializing in concrete pouring
As a small business owner, there are many roles to fulfill. These include human resources, legal, finance, accounting, bookkeeping, accounts payable, accounts receivable, collections and possibly security. To determine the roles that should be played, one must determine the type of business. For the purposes of this article, I am going to open a construction company specializing in concrete pouring. In addition to the previous roles, I now take on the role of general contractor, engineer to some extent, architect to some extent, surveyor and concrete worker as well as manager, leader and eventually of translator. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay Small businesses are not easy to run, nor are they easy to start; however, it is much more difficult to continue them than to start them. As noted in Forms of Business Ownership, just because a business decides on a certain legal form does not mean it is not a small business. Small businesses can have hundreds of employees. The HR role is in charge of all human resources related tasks. These include recruiting, training, required government documents, payroll, benefits, and compliance with all labor laws, both federal and state. Assisting employees with their legal formalities is also a requirement of this role. Opening a small business is not an easy task and there are many legal documents, insurances as well as licenses that must be obtained before starting work. Rather than paying thousands of dollars to an attorney to advise and assist with all the paperwork, it may be easier and less expensive to do all the paperwork yourself. Without legal training and all the other roles that also need to be played, this role will be a bit overwhelming. Finance and accounting are often used interchangeably, but they are not the same profession or tasks. Accounting involves balancing budgets, entering expenses, balancing accounts, and creating reports that are very useful in predicting the future. Finance generally oversees accounts payable and receivable. In a construction company, all invoices should be created as part of the finance role. Clients would also be billed in this role, but bank statements and quarterly reporting would typically be done in the accounting role. The construction company also needs a foreman as well as a liaison to meet with potential clients and, of course, workers to complete the work. It is not possible for one person to take on all the roles mentioned alone. The two most important roles would therefore be the legal and human resources roles, so that the mandatory documents and criteria are completed for the company and the right team is hired for the role. job. Without delegation of tasks, this small business will not only die, but it will die very quickly. Planning as a role is the most important because nothing can be done without prior planning. All roles in a small business are an integral part of the American economy. This is due to the large impact of small businesses on the American economy, as stated by Nickels in "Understanding Business"..