Question

State with reasons whether the following statements are true or False.

Small business cannot face global competition.

Answer 1

Small business cannot face global competition – True

Explanation:
Small business units cannot face global competition because of the following reasons:
i. Lack of basic infrastructure.
ii. Lack of adequate funds which are required for expanding business globally.
iii. Limited access to the markets of developed countries due to stringent quality certifications such as ISO 9000.
Thus, it can be concluded that it is difficult for any small-scale business to compete at the international level.