Did you know your small business can feel the impact of the global economy before larger businesses are affected? Small businesses, because of their size and more streamlined decision-making process, have certain advantages over their larger counterparts. Yes, even small business leaders should pay close attention to what is happening with the economy on a global scale.
Economics gets complicated, especially as the world becomes more connected. A stubbed toe in Belgium can cause a broken foot in the United States. This doesn’t necessarily mean you should hire an economist, or sign up for college courses on macro and microeconomics, but there are three statistics you should keep track of to stay informed: