What contributions do small businesses make to oureconomy?

What are some benefits of owning a small business?

________ effects on small business and small industries.

Discuss any five contributions and five challenges of small-scale business.

Required informationSkip to questionEntrepreneurs Reinvent Pizza Believe it or not, pizza, long an American food staple, has been losing popularity since 2000. Shifts in lifestyles and eating habits have influenced the downturn and are also influencing its reinvention. Review the three segments of the case and answer the questions that follow. No matter how you define small business, one fact is clear: Small businesses are vital to the soundness of the American economy. Small firms are also important as exporters, representing 97.5 percent of U.S. exporters of goods and contributing 31 percent of the value of exported goods. In addition, small businesses are largely responsible for fueling job creation and innovation. With their small size comes the flexibility to adapt to changing market demands. Read the case below and answer the questions which follow. Part I: Believe it or not, pizza, long an American food staple, has been losing popularity since 2000. A major contributor to the decline is America's growing interest in health. Those who fear fat don't want the cheese, oils, or the high-fat meats. Many pizzerias are moving away from fancy ingredients and large-sized pizzas and returning to the basics – focusing on quality ingredients rather than unique, abundant toppings – in order to present pizza as a pure, healthy meal. Along this line, restaurants such as American Flatbread don't even call their offerings pizza – it is referred to as flatbread and is made with organic flour and organic tomatoes. The company also uses only locally made mozzarella cheese and local meat. Part II: Taking another approach, Papa John's Pizza and Happy Joe's Pizza, two large chains, are working to open a new pizza market. Both companies have launched breakfast pizzas at test locations. Breakfast pizzas are topped not with typical pizza ingredients but with scrambled eggs, bacon, and other breakfast fare. With pizza sales limping along and the most sales occurring after 4 p.m., these chains see what they call Omelet Pizzas as an opportunity to hook an entirely new group of customers. Papa John's is currently testing Omelet Pizzas in downtown locations and focusing on corporate customers. Everyone agrees that selling breakfast pizzas will take time, but they feel it's worth a try. Part III: Entrepreneurs interested in breaking into the casual dining restaurant industry should take a look at the artisanal pizza. Casual dining chains have been experiencing customer growth of about 8 percent annually – a highlight in the restaurant world right now. For an entrepreneur looking to launch a restaurant, pizza is a cost-effective choice. According to Dave Ostrander, a pizzeria consultant, the cost of pizza ingredients can easily be less than 25 percent of the menu price, allowing for a decent profit. Entrepreneurs already involved in the pizza industry are looking toward expansion – a possible indication that the downturn in the pizza market is about to shift. Papa John's strategy to pursue breakfast pizza is an example ofMultiple Choiceintrapreneurship.entrepreneurship.management.franchising.undercapitalization.

What are the major benefits of business ownership?