Small business owners and operators work in a variety of industries such as retail goods, auto repair, home inspection, and many others. Their primary duties (outside of their respective skill or trade) include managing employees, providing customer service, promoting their business, filing and documenting appropriate business accounts, and ensuring their business meets any local, state, and federal requirements. Small business owners may work from a storefront, office space, or even from their home. Depending on the type of business, trade, or service they practice, their hours can vary; however, many organizations operate during daytime hours.
Small business owners and operators generally must have experience in their field, and experience running a business is often beneficial. These professionals are required to have knowledge of tax law, payroll accounting, employee rights, and employee management. Depending on local, state, and federal guidelines, they may have to file their taxes and expenses for themselves, their business, and their employees in ways that differ from common individual taxes.
Small business owners and operators may run their own business for a variety of reasons. Their work experience could qualify them to be self-managed. They may have time, financial, and/or personal constraints that make the flexibility of a small business preferable to that of a subordinate position at another business. Small business owners and operators may also like the challenge and potential rewards of operating a small business.