article thumbnail

How SMEs Solved These 4 Challenges Through Back Office Service Solutions?

Magellan Solutions

The dollar volume of bank loans for SMEs declined by 20% since the recession in 2007. . Meaning businesses are not doing a great job optimizing their online presence. Human Resource. 81% of small business owners are personally managing their own human resource department. Lack of Financial Access.

Service 52
article thumbnail

Outsourcing as Business Strategy During Recession

Magellan Solutions

Before the COVID-19 Global Pandemic, the world experienced the Global Recession during the years 2007-2009. million jobs were lost. With COVID-19’s continuous devastation on the resources and financials of firms, we can safely say that it has impacted more or less 90% of businesses around the world. Don’t give up .