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The importance of small businesses and their role in the economy
How do small businesses contribute to economic growth?
Small businesses contribute to economic growth by creating jobs, fostering innovation, promoting competition, driving productivity, supporting local supply chains, and injecting vitality into the marketplace. Their collective impact can stimulate economic development and enhance overall prosperity.
What are the effects of small businesses on local communities?
Small businesses have positive effects on local communities by stimulating economic activity, creating jobs, fostering entrepreneurship, supporting local suppliers, contributing to tax revenue, and promoting community engagement and development.
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