Recently in UK government has tightened the planning regulations to control the spread of out-of-town Superstores which might pose a threat to small shops in the town centre.
Small business is vulnerable to the competition.
As we all know that small firms are important for the economy.
- Every business starts small.
- Small businesses are flexible and respond easily to changes in demand.
- Small firms often cater to local demands.
- In difficult economic times, such as a recession, small business can be an important source of providing employment.
- Small firms provide competition to larger firms through providing customised goods and services.
- Small firms provide niche products and services which a larger firm might oversee.
Click here to goto revision notes on small businesses.
Click here to attempt a Case study on how governments help small businesses.
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