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Why is it small business that suffers the most?
Small and medium-sized businesses (SMEs) can be particularly vulnerable because of
👉Increased Costs driven by rising wages and competition: SMEs may struggle to match the salary increases offered by larger companies.
👉Changes in Consumer Spending Patterns: Consumers may cut back on spending and become more price-sensitive, opting for cheaper alternatives.
👉Financial Vulnerability: SMEs are typically less prepared for economic shocks. High inflation and rising costs can quickly erode their cash reserves.
👉Regulatory and Tax Pressures: Increased taxes or new regulations, may disproportionately impact SMEs, as they often have no extra resources to absorb new costs.
❓Any ideas on the useful strategies?
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23 июля 2024