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The advantages and disadvantages of being a small business
What are the benefits of operating a small business?
Operating a small business offers advantages such as flexibility, direct control over decision-making, closer customer relationships, quicker adaptation to market changes, potential for higher profitability, and the ability to make a positive impact on local communities.
What challenges do small businesses face in terms of resources?
Small businesses often face challenges in accessing financial resources, obtaining affordable capital, acquiring necessary equipment or technology, and competing with larger companies that may have more extensive resources and economies of scale.
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