Abstract
Small businesses serve as the cornerstone of global economies, playing a pivotal role in fostering employment opportunities. Distinguished by unique characteristics that set them apart from larger organizations, their compact size and adaptable management structures empower swift responses to dynamic changes, positioning them as hubs for cutting-edge innovations. Small business proprietors, characterized by their entrepreneurial spirit and risk-taking disposition, drive the creation of novel products and services within existing markets. Given the notably low success rates of small businesses, it becomes imperative to precisely conceptualize and define this sector, facilitating an enriched environment for sustained growth. This article endeavors to offer a nuanced comprehension of small businesses, encompassing various types, distinctive features, and prevalent challenges. Ultimately, it seeks to identify common yet crucial factors contributing to the failure of small businesses.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
