By Mansel G. Blackford
From the colonial period to the current day, small companies were an essential component of yank existence. First released in 1991 and now completely revised and up-to-date, A historical past of Small enterprise in America explores the significant yet ever-changing position performed by means of small corporations within the nation's fiscal, political, and cultural development.
Examining small companies in production, revenues, providers, and farming, Mansel Blackford argues that whereas small organisations have constantly been very important to the nation's improvement, their value has diversified significantly in numerous time sessions and in numerous segments of our financial system. all through, he relates small company improvement to alterations in America's total enterprise and fiscal structures and gives comparisons among the expansion of small company within the usa to its improvement in different international locations. He locations specified emphasis at the value of small enterprise improvement for ladies and minorities. targeted in its breadth, this ebook presents the one complete review of those major topics.
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Extra resources for A History of Small Business in America
Like their modern counterparts, these family-controlled banks channeled surplus funds in their communities into proﬁtable investment opportunities. In doing so, they successfully adapted traditional ways of doing business—the reliance upon family ties—to new needs. The only commercial banks to develop any real hierarchical management were the two nationally chartered institutions, the First (1792–1812) and Second (1816–1836) Banks of the United States. Headquartered in Philadelphia, the Banks of the United States had branches in major cities across the nation, eight in the case of the First and twenty-ﬁve in the case of the Second.
By remaining ﬂexible in their production techniques and adjusting their products to take advantage of market niches, the cutlery companies in the Connecticut Valley continued as industry leaders in the United States until after the Second World War. Even as something approaching mass production began, a concern for craftsmanship lingered. Most of the ﬁrms, though now organized as corporations, remained closely held family businesses. Their owner-managers continued to be more interested in producing high quality goods than in increasing proﬁts.
Even in the 1600s and 1700s most farmers were market-minded, and this orientation heightened in the early and mid1800s. Only those lacking good transportation to markets lived a subsistence existence. Most agriculturalists ran their farms as small businesses. In only a few areas did large agricultural establishments exist; even in the cotton belt of the antebellum South, small farms, not large plantations, were the most common units of production. Roughly 85 percent of colonial Americans were farmers, and the owneroccupied family farm was the typical unit of production (tenancy rates were much lower in colonial America than in other agricultural societies of the time).