Small businesses are feeling the pinch because reduced disposable income among consumers creates an even tougher operating environment for small businesses. More importantly, petrol and electricity are some of the basic needs for most small business. However, all is not lost because businesses that survive this challenging period could be best positioned to thrive in future.
There are interventions that small businesses could take to survive or thrive during 2014.
While 2014 is likely to remain a challenging environment for businesses in general, small businesses should continue to work harder and smarter to ensure long-term sustainability. Tough economic conditions have become a global phenomenon but with the necessary plans, small businesses could thrive.