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201 GREAT IDEAS for Your SMALL BUSINESS, Third Edition by Jane Applegate

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4

Develop and Launch New Products and Services

You might think that only big companies with deep pockets can launch products. Not so. More products are dreamed up and executed by small, innovative companies or individuals. In 2007, small companies invested about $50 billion on research and development (R&D), according to the National Science Foundation.

In 2010, as the economy improved, all U.S. firms were projected to spend $260 billion on R&D, down slightly from the $268 billion spent before the recession in 2008.

Often, just one or two people dream up a staggeringly great idea. Facebook was founded by Mark Zuckerberg, a Harvard undergrad, and some friends. A few years and several lawsuits later, he turned down a billion-dollar offer to sell ...

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