Human resource practices in start-up companies
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Entrepreneurship is part of the American dream; about 10% of the US work force owns a small business. In a stable economy owners that are focused on product and market development see continuous growth and expansion; however in turbulent economic times businesses are forced to focus on their competitive advantages. For small enterprises, the most valuable asset is the human capital of the firm; nonetheless many start-up founders tend to overlook the importance of administrative issues like human resource management (HRM). This report shall discuss how founders initially approach the employment relations in the start-up, and what effects their choices have in the long run on the business performance.