What Challenges Do Businesses Face in Contributing to Economic Growth?
Despite their critical role, businesses face several challenges in contributing to economic growth. These include:
Regulatory Constraints: Complex and burdensome regulations can stifle business activities and innovation. Access to Capital: Small and medium-sized enterprises (SMEs) often struggle to secure funding for expansion. Economic Uncertainty: Fluctuations in the economy, such as recessions or inflation, can disrupt business operations. Technological Changes: Rapid advancements in technology require businesses to continually adapt and invest. Global Competition: Businesses must navigate competitive pressures from both domestic and international markets.