
Small businesses are often referred to as the backbone of the economy. They play a vital role in job creation, innovation, and the overall economic development of a nation. Whether it’s a family-run café, a local tech startup, or an independent retail store, small businesses contribute significantly to the vibrancy and sustainability of both local and global economies. In this article, we explore the importance of small businesses, the challenges they face, and strategies for success.
What is a Small Business?
A small business is typically defined as an independently owned and operated enterprise that is not dominant in its …