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Get priceReading: Advantages and Disadvantages of SmallBusiness Ownership Owning a small business has its advantages and disadvantages. Each entrepreneur must weigh the pros and the cons carefully and decide whether or not the risk is worth the reward.
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Get priceAdvantages of small firms Flexibility. Small firms can adapt to change more quickly. This is because owners, who tend to be the main decisionmakers, are actively involved in the business and can react to change. E.g. A small bakery can produce a personalized birthday cake whereas a large cake manufacturer may not be able to do this. Lower wages
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