Question $7(1$ point$)$

What are the major advantages and disadvantages of small businesses?

Advantages: large market share, established brand recognition; Disadvantages: inflexible business practices, slow market response.

Advantages: independence, and personal satisfaction; Disadvantages: managerial challenges, and compliance costs.

Advantages: more job security, and higher salaries; Disadvantages: higher risk of failure, more competition.

Advantages: lower compliance costs, extensive financial resources;

Disadvantages: lower customer satisfaction, limited market response.