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6/13/2023
Downsizing? 20 Tips to Strategically Downsize Your Small Business
Navigating through the choppy economic waters of our times, small businesses grapple with significant challenges. From rising inflation and heightened competition to daunting supply chain issues, increased interest rates, and aggressive competitors, small businesses find themselves on a treacherous path. Where there is smoke, there is fire. For example, a study late last year by CNBC and SurveyMonkey found that 92% of small business owners are concerned about inflation; 45% of them cited inflation as their largest business risk. At the same time, nearly half of small businesses think the economy is in recession.
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