as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what are three challenges that small business owners may face?
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three challenges that small business owners may face include cash flow problems, navigating business laws, and competing with larger companies. cash flow problems can arise due to infrequent or delayed payments from customers, leading to difficulty in paying taxes, rent and other bills. navigating business laws can be difficult for small business owners who may not have the expertise or resources to understand the regulations imposed on them. competing with larger companies with more resources and experienced personnel can be difficult for small businesses. they have to focus on innovation and improving customer service to stand out and gain market share.
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