In USA, small businesses play a significant role in providing employment. But they are not able to survive the local market competition and from larger businesses. There can be many reasons for this poor survival rate including low capital, unawareness of new technologies, managerial inconsistencies etc. According to a SBA report released in September 2009, around 627,200 new employer firms began operations in 2008 and 595,600 firms closed that year. This results to an annual turnover of about 10 percent for entry and 10 percent for exit. Non-employer firms have…
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