Research- managing small business Research Paper

- managing small business - Research Paper Example RAYZ is small company in the Kingdom of Saudi Arabia, having business interests in digital marketing and social media. The purpose of this paper is to analyse the behaviour of small business with respect to established theories and principles, taking RAYZ as an example. In most of the developed countries such as the United States and United Kingdom, big companies or corporates contribute heavily to economic development whereas in developing countries such as India and China, small and medium enterprises (SMEs) play a vital role in streamlining economic progress. Small business or SME has different definitions in different countries. As the name indicates, small business or SME is nothing but a business in which the revenue generated and the number of employees working is below certain standards. These standards will be different in different countries. While the United States has not set any criteria for defining SMEs, the European Union defines Small enterprise as a company with fewer than 50 employees, and medium-sized enterprise as a company with fewer than 250 employees (Investopedia, 2015). Saudi Arabia is one of the most rapidly developing states in the Middle East at present. As in the case of India and China, SMEs contribute heavily to the development of the KSA. A lot of small business operates in the Kingdom by the locals as well as foreigners. RAYZ is one such small company, started in Riyadh 2012 by a young group of creative and ambitious individuals. Bandar Alwabil and Yazeed AlGhuraibi are the founders of RAYZ which is specialized in digital marketing and social media business. Rayan Alwabil is the Chief Executive Officer of the company while Yazeed AlGhuraibi is working as the Chief Operating Officer of the company at present. Around 30 employees work in various departments of RAYZ now (RAYZ, 2015). The