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As a small business owner, there are many roles which must be taken on. These include human resources, legal, finance, accounting, bookkeeping, accounts payable, accounts receivable, collections, and possibly security. To determine the roles that must be played, the type of business must be determined. For the purpose of this paper, I will be opening a construction company that specializes in pouring concrete. In addition to the previous roles, I have now taken on the role of a general contractor, engineer to an extent, architect to an extent, surveyor, and concrete laborer as well as manager, leader, and possibly translator.
Small businesses are not easy to run, nor are they easy to start; however, they are far more difficult to keep going than they are to start. As stated in Forms of Business Ownership, just because a business decides on a certain legal formation does not mean it is not a small business. Small businesses can have hundreds of employees. The human resource role is in charge of all related human resource tasks. These include recruiting, training, mandatory Government documentation, payroll, benefits, and compliance to all labor laws, both Federal and State level. Assisting employees with their legal paperwork is also a requirement of this role.
Opening a small business is no easy tasks and there are lots of legal documentation and insurance as well as licenses that must be obtained prior to beginning work. Rather than paying attorney thousands of dollars to advise and assist in all paperwork, it may be easier and cheaper to do all the paperwork oneself. Without a legal background and all other roles that must be played as well, this role will be a bit cumbersome.
Finance and accounting are often used interchangeably, but they are not the same occupation, nor do they have the same job duties. Accounting has to do with balancing budgets, entering expenditures, balancing accounts, and creating very useful reports in predicting the future. Finance typically oversees accounts payable and receivable. In a construction company all invoices would need to be created as a part of the finance role. Customers would also be billed in this role, but the bank statements and quarterly filings would typically be done in the accounting role.
The construction company also needs a foreman as well as a company liaison to meet with potential customers, and of course laborers to complete the work. There is no way one person can take on all the mentioned roles by themselves, so the two most important roles would be the legal and Human Resource roles so that the mandatory paperwork and criteria is met for the company and the right team is hired for the job. Without delegation of duties, this small business will not only die, it will die very quickly. Planning as a role is the most important as nothing can be done without planning it out first. All roles in a small business are integral to the American economy. This is because of the great impact small businesses has in the American economy, as stated by Nickels in “Understanding Business” (2010).
In summary, starting a new business requires taking on various roles, such as human resources, legal, finance, accounting, bookkeeping, accounts payable, accounts receivable, collections, construction foreman, plan reader, surveyor, safety manager, and so much more. The major component of success is optimal planning and contingency planning as well. Any and all small businesses that generate income, provide goods, services, and jobs are good for the American economy.
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