10 / October / 2021 : 09-51

The Role of Small Businesses in Job Creation and Economic Development


Small businesses play a crucial role in job creation and economic development. They provide opportunities for entrepreneurship, innovation, and growth, and contribute to local economies by creating jobs, generating revenue, and supporting local suppliers and businesses. Small businesses also promote competition, diversity, and flexibility in the market, leading to increased consumer choice and lower prices. Moreover, they help to revitalize and strengthen local communities, often by supporting local initiatives and participating in community development projects. As such, small businesses are an essential component of a thriving and sustainable economy.

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Published on 10 / October / 2021 : 09-51
Published by Liana Aloyan

Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.

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