The Entrepreneur's Information Sourcebook: Charting the Path to Small Business Success

Citation

Reid, C.D. (2007), "The Entrepreneur's Information Sourcebook: Charting the Path to Small Business Success", Library Review, Vol. 56 No. 3, pp. 251-252. https://doi.org/10.1108/00242530710736073

With the rapid growth of small business start‐ups, the SME sector today accounts for a large percentage of the economic activity within most countries. Within the UK alone, according to the Federation of Small Businesses (FSB, 2006), more than 500,000 are set up each year making the total number of UK small and medium sized enterprises at around the 4.3 million mark. With governments encouraging SME development, more individuals are seeing, and then acting on, opportunities to start their own business (Global Enterprise Monitor, 2006). However where to go for help and advice can be quite daunting. In this sourcebook, Susan Awe sets out to direct the entrepreneur to the print and internet resources useful at each stage of the process of starting, running and growing a small business.

The book is arranged in thirteen chapters covering the wide range of information potentially required by an entrepreneur. The shortest chapter in the book is the first which poses the question “Are you an Entrepreneur?” This considers the skills and characteristics required to be successful in your own business, and the resources signposted here are designed to stimulate honest and realistic thinking into why setting up in business is the correct path to take. The remaining chapters consider research, statistics and information gathering; starting up; writing a business plan; the ups and downs of franchising; raising capital; marketing and advertising; the management of a business; personnel and HR issues; tax and legal issues; working with the government; competitive analysis and growing and exiting a business.

Each chapter begins with an overview of the key concepts in the area, for example, the marketing chapter succinctly explains the role and purpose of marketing, how to write a marketing plan, outlines the four Ps of marketing; where to begin looking for market research; and gives an overview of the different activities which constitute “marketing”. Key resources are integrated into this narrative, the aim of which is to give practical advice. Each chapter concludes with a listing of print and electronic resources which develop the topics covered and can provide further advice and information. Each resource is described in an approx 200 word paragraph allowing selection of the most appropriate resources to meet specific needs. Screen shots of web pages enhance the descriptions. Sources included are very current with most of the web sites being last accessed in the Fall of 2005. The volume concludes with an index and glossary of key terms used in the book.

This sourcebook is a useful starting point for the budding entrepreneur. Sadly for those of us on this side of the Atlantic, the book appears to have been aimed at a primarily American audience. This is particularly noticeable in the chapters dealing with statistics, starting up, raising capital, working with the government and legal issues where the web sites mentioned are North American. More general advice on the components of a business plan or how to organize and structure a business cross country boundaries much easier. Perhaps there is scope for a companion UK volume?