Problems Facing Small Firms

The biggest problems facing small firms is managing sales, increasing business costs, relationship with customers and suppliers and hiring and retaining quality employees. Due to the economic crisis large number of people prefers saving instead of spending their surplus because they are more worried about the future happenings. People tend to postpone spending and cut their budget expenses in order to save more. When people increase their savings businesses suffer low sales hence low profits.
Businesses are faced with another major concern on hiring and…..

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