Evidence suggests that during economic downturns family businesses increase.

Question

Quizplus · Accepted Answer

During economic downturns, some larger corporations may struggle to stay afloat, leading to layoffs and reduced benefits for employees. This provides opportunities for family businesses to step in and fill the gaps in the market, leading to an increase in their numbers. Additionally, some people may be more inclined to start their own business during tough economic times as job security in larger corporations is uncertain.

Evidence Suggests That During Economic Downturns Family Businesses Increase