Entrepreneurial spirit boosts small business success during economic downturns
Small and medium-sized businesses are important for the economy. A study looked at how these businesses can do well during tough economic times. They found that being innovative, proactive, and taking risks can help businesses grow. The study also found that personal values and past experience of the business owner play a big role in how well the business does. Overall, being entrepreneurial can lead to better performance for small businesses, but during an economic crisis, it can have both good and bad effects on how well the business does.