The Importance Of Small Business In Kentucky
Income influences spending habits. Small businesses customers are likely to purchase more when their income is available. When the economy is increased the incentives to spend more increases. However, when income fluctuation occurs small business sees an intruder within the economy. Small businesses thrive well when the economy grows. The opposite happens during economy declines.
Occupation type of jobs people performs by their skills will affect your small business. Your customers can range from self-employed to doctors. Unskilled customer’s wages will be lower which will cause a decline in purchases. Measuring socio-economic impact for small businesses can help your company needs, resources, and incentives of their customers. Kentucky offers small business tax incentives to programs to improve their