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Showing posts with the label Izabella Steinerowska-Streb

Recession Busting Small Firms: A Study on Successful Small Business Management

Small businesses are one of the first organizational entities that sink during a recession. The strength and innovative ability of a nation lies in the ability of smaller businesses to maintain profit margins and find new ways of adapting to poor market conditions. Research helps highlight how the legal form, management, and market exposure of such small businesses contributes to their success in overcoming recession related challenges.  The advantages of having small businesses within the market cannot be underestimated. They significantly contribute to employment, income generation, exporting of products/services, stimulators of competition and sources of innovation (Anderson & Tell, 2009). Without the success of small business states and nations would not have those innovative cushions that can recoup quickly and take advantage of market trends.  In many cases such businesses suffer from poor financial capital as well as ineffective management that lacks clear stra