Meaning ● Societal inequality, within the realm of Small and Medium-sized Businesses (SMBs), manifests as disparities in access to resources, opportunities, and fair treatment, influencing business scalability, innovation adoption, and talent acquisition. This imbalance affects not just hiring practices but also market access and funding opportunities for SMBs owned or operated by individuals from underrepresented groups. Inequality might present barriers to automation implementation, as certain demographics could lack the necessary training or access to technology needed to effectively integrate such advancements. Business growth can stagnate when inequalities restrict market participation, curtailing the overall economic health of SMB ecosystems.
