The Impact of Economic Crisis on Small Business (Case Study in Erbil-Iraq)
Cuma AkBAY, Rizgar Saed Hussein, Bahzad Taher Salim, Sirwan Latif

Abstract
This research investigates the Economic Crisis in Erbil-Iraq and its impact on Small Business (SBs) sector by using factor analyses model. Data was collected from 110 SBs by using cross sectional data and simple random techniques. The model is used to analyze the possible impact of Economic Crises on Erbil’s economy. Results indicated that economic recession has a negative impact on the SBs sector in Erbil in the last two years. Employing the simplified static analysis framework based on simulations revealed that the economic recession has influenced negatively on the economy of Erbil. Increasing general inflation rate, decreasing living standards and purchasing power have negative impacts on the growth of SBs in Erbil and eventually the economy of Erbil.

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