Small businesses have always been the backbone of the economy, but in 2024, they face unique challenges. As economic landscapes shift and new technologies emerge, small business owners must stay agile to remain competitive.
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The demands of attracting top talent, adapting to technological advances, and protecting against cybersecurity threats are more pressing than ever. At the same time, rising customer expectations and ongoing economic uncertainties continue to shape the future of small businesses.
Below, we explore the top five challenges faced by small businesses in 2024 and offer insights on navigating them successfully.
Economic uncertainty is one of the biggest challenges for small businesses in 2024. With fluctuating interest rates, inflation concerns, and global market instability, many small business owners find it difficult to plan for long-term growth.
Unpredictable costs of goods and services and supply chain disruptions create a financial strain that can hinder expansion efforts and cut into …