Consequently, the positive cycle of production, income, and expenditures that had supported the economic recovery during fiscal 1996 weakened from the beginning of fiscal 1997, exerting downward pressure on the overall Japanese economy. With respect to final demand components, the primary factor that weakened this positive cycle was the sluggishness of household expenditures.
The complexity of the U.S. market for financial services requires greater financial management skills than are typically needed in developing countries. Here, even very small businesses are likely to have to deal with factors – such as taxes, licenses, and zoning laws – that can prove daunting hurdles to the inexperienced, aspiring business owner (Assanie and Virmani, 2006).