The Academic Minute: Robert Edgell, SUNY Polytechnic Institute - Small Businesses and Entrepreneurs
Entrepreneurs are flashy, but don’t forget about reliable small business owners.
Robert Edgell, associate professor of technology management at SUNY Polytechnic Institute, delves into how both business ventures can have a beneficial impact on a community.
"Small business owners have strong operational know-how, managerial abilities, and local community ties. Their firms usually deploy well-known business models and processes to deliver low novelty, high quality products and services that fulfil localized niche demand. They typically are low risk and bank fundable since they have relatively low startup and operating costs. These firms tend to recirculate existing local capital in their home communities through providing incremental value...."