Setting up small and medium-sized businesses (SMBs) is a vital issue today as it greatly affects many sectors of society. SMBs have a great influence in job creation in this modern and varied economy, where more and more products and services are emerging. Recent estimates show that unemployment will lessen all over the world. This is due to the large number of SMBs being formed now or soon in the future. Thanks to the help of SMBs, economists have seen a major boom in the GDP (per capita income). They have also contributed to a good cash flow in the economy around the world.
SMBs charge lower fees to their clients and offer great experiences and services with a personal touch. It is hoped that these types of companies will grow in the coming years as soon as the state economy improves. If the economy becomes volatile, SMBs will be at risk of going under due to their reduced budgets. Small and medium businesses drive the country’s economy by bringing more income and jobs. One of the factors in favor of this type of business is that they can react quickly to market changes. This is because they do not have large corporate hierarchies, which could slow down decision-making. They don’t need to wait for the approval of others. So, if these business owners see a great chance to go after their competitors, they can do it quickly. SMB workers often have the chance to learn about the work in other areas and get a wider view of their field. On the other hand, large companies limit their staff’s job descriptions, which is a major hurdle to their professional growth.
It is agreed that SMBs offer many advantages and are a source of growth for many countries. Since 2019, there has been a spike in new small and medium businesses. In that year, their sales volumes represented 26% of the local market. One of the areas with the largest sales growth was furniture stores. It should be noted that the smaller companies, which hire less than 50 people, add up to more than 42,575 and about 95.1% of all companies in Puerto Rico.
SMBs are crucial to Puerto Rico’s economy. For a country to progress, it must invest in its SMBs and give them tools to help them grow and beat obstacles like those we’re facing right now. One of these hurdles is health care, especially in these harsher times and with more stress factors.
As an SMB owner, are you taking care of the health of your team and your business? At Triple-S, we know how committed you are. That’s why we have a great plan that offers $0 copays, virtual medical visits, programs to help handle chronic health problems, and more. We also give you options to take care of your team inside and outside the workplace, with services to protect their physical and mental he!alth. Visit our page and learn more about the plans we have available: https://salud.grupotriples.com/en/small-and-medium-businesses/ . Taking care of your and your employees’ health is vital to keep your business running.