A small business typically consists of several key parts or components that help it run smoothly. Here are the main parts:
1. Operations
- Day-to-day business activities
- Production or service delivery
- Supply chain management
2. Finance & Accounting
- Budgeting and financial planning
- Bookkeeping and tax compliance
- Cash flow management
3. Marketing & Sales
- Branding and advertising
- Customer acquisition and retention
- Pricing strategies
4. Human Resources (HR)
- Hiring and training employees
- Employee benefits and payroll
- Workplace policies and culture
5. Customer Service
- Handling customer inquiries and complaints
- Maintaining customer relationships
- Ensuring customer satisfaction
6. Legal & Compliance
- Business licenses and permits
- Contracts and agreements
- Industry regulations
7. Technology & IT
- Website and online presence
- Data security and management
- Software and digital tools
Each small business may structure these parts differently based on its industry and size. Would you like a more detailed breakdown for a specific type of business?
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