Meaning ● Local Economic Restructuring, within the SMB domain, represents the dynamic realignment of economic activities within a specific geographic area, significantly influencing and being influenced by small and medium-sized businesses. This restructuring often involves the introduction of new industries, the decline or adaptation of existing ones, and the shift in labor markets driven by factors such as technological advancements, changes in consumer demand, and governmental policies. For SMBs, navigating this landscape is vital; strategic automation implementation can serve as both a reactive measure against potential disruptions and a proactive means to seize new opportunities created by the changing economic structure. Considering implementation, SMBs often lead by example using technology to change its structure, as they see the growth opportunities it brings, making them attractive local economic candidates.
