Small businesses once formed the backbone of the United States economy. After a while these entrepreneurs expanded, merged, and purchased other businesses. This historic business trend created some of the well-known companies we know today. An example would be the development of Wal-Mart. Today, small businesses operate in the shadow of “big box” stores. However, small business owners account for more than 90%, but only less than 5% or 10% of GDP, “gross domestic product.” As a manager of a large company or a potential entrepreneur, it is wise to be aware of new competitors, the state of the economy, and current management trends. Today there are trends that will change everyone's expectations regarding small business development for 2014. Competition is always present for every business. Most of the competitors are already established with their own reputation and brand. Competition is constantly evolving in many ways, including new businesses entering the market. This new competition can be a completely different concept of how to offer the same service or product and a new product or service. As an up-and-coming entrepreneur, I like to keep up to date with exciting new startup businesses and business trends. First I'll share with you some new businesses that will gain more traction in 2014. Some are new concepts and some are just another way to be helpful. Then I will look at the state of our economy and what are some signs that suggest expansion and growth for the new year. Finally, I would like to highlight some current trends underway that will have a direct or indirect effect on employees or owners. Body: development and presentation of the topic. Implications, Applications, or Lessons Learned In 2014, small businesses...... half of the document ...... g work with the intent to grow and develop the individual. Works Cited Merhar, Christina. Blog about employee health and insurance benefits. " 4 HR and Hiring Trends Small Business Owners Need to Know for 2014. The Benefits of Zane. February 12, 2014. Web. February 23, 2014 “Small businesses are expecting a big year in 2014.” eMarketer. 31 December 2013. Web. February 23, 2014. Fallon, Nicole. “14 Best New Business Ideas for 2014.” BusinessNewsDaily.com. Web. February 23, 2014. Mcwhinnie, Eric pouring into small businesses?” Wall Street Fact Sheet. Feb. 11, 2014. Web. Feb. 23, 2014 Ausick, Paul. “Small Business Optimism Rises for Sales and Hiring.” 247wallst.com. Feb. 23, 2014. “Small Business Loans Skyrocket in December.” Inquisitr News February 11, 2014. Web 23, 2014.