The growing competition with rivals and decrease in customers are forcing small businesses to

turn their attention to reduce their cost of operation. According to a survey by Swiss based

insurance company  Zurich Insurance Group 44% of small businesses believe cost cutting is the most

important concern businesses should take the opportunity to solve.

What Opportunities Exist For American Small Businesses?

Besides cost cutting small businesses are putting their focus on finding new target customer

base and  sales mediums which according to a PDF report “Biggest Opportunities for Small and

Medium Enterprises (SMEs) in 2016” from the survey taken from 2600 small businesses around the

world make up 36% and 33% respectively of the number of concerns small and medium

enterprises have. American business surprisingly have  better opportunities to expand on these

sales channels and when compared to their international counterparts they see investment in

foreign markets as providing them with a greater opportunity for growth.

What Risk Exist For Them Also?

Small businesses are growing more conscience of the challenges they have to face now. The

greatest of them being the low consumer demand and the high competition and some risk factors

include vulnerable and inefficient technology. New technology helps businesses improve on a

number of functions from communication to inventory management to supply chains and as

technology progresses businesses would be able to function more quickly and efficiently. Craig

Fundum, Head of Commercial Markets for Zurich North America says

“Advances in technology straddle the line between both risks and opportunities for medium-sized

businesses. In an increasingly sluggish growth environment, they are leaning on technological

improvements to tighten their supply chains, reduce software development, and condense testing

processes,”.  Fundum also warns of the risk technology can impose on the success of businesses

saying “At the same time, a reliance on technology opens medium-sized businesses up to cyber-

security concerns and technological failures or glitches that can offset productivity gains.” In the

end businesses are facing more obstacles today then before but with opportunities for growth in

foreign markets and the new technology that is being introduced that might change things for the



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