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A History of Small Business in America by Mansel G. Blackford

By Mansel G. Blackford

From the colonial period to the current day, small companies were a vital part of yank lifestyles. First released in 1991 and now completely revised and up to date, A heritage of Small enterprise in America explores the primary yet ever-changing position performed by means of small organisations within the nation's fiscal, political, and cultural development.

Examining small companies in production, revenues, companies, and farming, Mansel Blackford argues that whereas small organisations have consistently been vital to the nation's improvement, their value has various significantly in numerous time classes and in several segments of our economic system. all through, he relates small enterprise improvement to adjustments in America's total company and financial platforms and provides comparisons among the expansion of small enterprise within the usa to its improvement in different nations. He areas exact emphasis at the significance of small enterprise improvement for girls and minorities. special in its breadth, this e-book presents the single complete evaluate of those major topics.

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Extra resources for A History of Small Business in America

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The situation of artisans in pre-Revolutionary Charleston, South Carolina, was probably typical of that in most colonial cities. In Charleston there were two groups of artisans: those who owned their own shops and those who did not. Carpenters, bricklayers, carvers, joiners, and tinsmiths usually did not possess their own shops. However, a large number of saddlers, cabinetmakers, shoemakers, and others did and operated as small business people, fashioning their own wares for sale in their own shops.

Even in the South, as in colonial times, family farms remained important, as farms produced cash crops and foodstuffs for local consumption and long-distance trade. A dwindling proportion of antebellum farms were self-sufficient producers in remote areas. 78 twenty years later. Instead of making items for their own use, farmers resorted to country stores where they purchased them. Writing in the early 1850s, the president of the New York Agricultural Society commented upon this trend, noting that the farmer ‘‘now sells for money, and it is in his interest to buy for money, every article that he cannot produce cheaper than he can buy.

Nowhere was this clearer than in banking. Most antebellum banks, at least in New England, functioned not so much as modern commercial banks, but more as the financial arms of extended kinship groups. Family-controlled banks raised funds through deposits and the sale of stock in their banks to the public; the families, however, retained a controlling share of the ownership of the banks for themselves. The banks then loaned the bulk of their resources to family insiders who, in turn, invested them in their industrial or trading ventures.

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