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Understanding How the Economy Affects Your Small Business Performance: The impact of economic growth and recession, inflation and unemployment on your business bottomline

Understanding How the Economy Affects Your Small Business Performance: The impact of economic growth and recession, inflation and unemployment on your business bottomline

Georgia McLeod
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When you are in business, changes in the economy are bound to affect how you operate. When the economy grows, or enters into a recession, either of these situations may affect your profits. Also, high rates of inflation and unemployment can also impact your business operations based on how they affect costs and profit margins. These main economic changes can affect your business profitability, its sustainability, its productivity as well as the size and scope of your business operations.
If you are an entrepreneur or potential entrepreneur, it is extremely important to understand how the economy in which you operate can potentially affect your business, whether positively or negatively. This understanding will better enable you to make more strategic decisions for you’re your business both in the short term and long term. While you do not have any control over the changes which occur in the economy, you do have some control over how those changes can affect your sales and profits.
This book provides entrepreneurs and potential entrepreneurs with useful information on the various ways in which the economy affects small businesses. Specifically, you will get a good understanding how economic growth, economic recession, inflation and unemployment can affect your business bottom line. These areas are very critical aspects of the study of economics and they affect businesses around the world every day. Given their relevance to business profitability, financial management and cost control, it is important to know how these areas can impact your business regardless of whether you live in a first world or a third world country. Hopefully you will come to appreciate that economics contains critical conceptual material necessary for an intelligent understanding of business life.
Language
English
Pages
19
Format
Kindle Edition
Release
January 04, 2015

Understanding How the Economy Affects Your Small Business Performance: The impact of economic growth and recession, inflation and unemployment on your business bottomline

Georgia McLeod
0/5 ( ratings)
Read Download
When you are in business, changes in the economy are bound to affect how you operate. When the economy grows, or enters into a recession, either of these situations may affect your profits. Also, high rates of inflation and unemployment can also impact your business operations based on how they affect costs and profit margins. These main economic changes can affect your business profitability, its sustainability, its productivity as well as the size and scope of your business operations.
If you are an entrepreneur or potential entrepreneur, it is extremely important to understand how the economy in which you operate can potentially affect your business, whether positively or negatively. This understanding will better enable you to make more strategic decisions for you’re your business both in the short term and long term. While you do not have any control over the changes which occur in the economy, you do have some control over how those changes can affect your sales and profits.
This book provides entrepreneurs and potential entrepreneurs with useful information on the various ways in which the economy affects small businesses. Specifically, you will get a good understanding how economic growth, economic recession, inflation and unemployment can affect your business bottom line. These areas are very critical aspects of the study of economics and they affect businesses around the world every day. Given their relevance to business profitability, financial management and cost control, it is important to know how these areas can impact your business regardless of whether you live in a first world or a third world country. Hopefully you will come to appreciate that economics contains critical conceptual material necessary for an intelligent understanding of business life.
Language
English
Pages
19
Format
Kindle Edition
Release
January 04, 2015

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