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Small businesses often face challenges adapting to rapid market shifts due to limited budgets, poor access to data, and slow organizational agility.
Sylvie Vance
<<<### Why is adapting to sudden market shifts so difficult for small businesses?
Adapting to sudden market shifts is challenging for small businesses primarily due to severely limited resources (https://www.forbes.com/posts/07/12) and a critical lack of real-time data (https://hbr.org/2022/05/data-deficiency). In fact, studies show that over 60% of small enterprises cite budget constraints as a major barrier to adopting new technology (https://www.sba.gov/reports/tech-adoption-2023). Furthermore, organizational agility is often hampered by legacy processes, making it difficult to pivot strategies as quickly as larger, more digitally native competitors.>>>
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