Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 169

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 169
---
 to invest significantly in our sales force to obtain new customers and increase sales to existing customers. There is significant
competition for sales personnel with the skills and technical knowledge that we require. Our ability to achieve significant revenue growth
and profitably will depend, in large part, on our success in recruiting, training and retaining sufficient numbers of sales personnel
to support our sales efforts. A portion of our current sales personnel are new to our Company. New hires require significant training
and may require a lengthy onboarding process before they achieve full productivity. Our recent hires and planned hires may not become
productive as quickly as we expect, and we may be unable to hire or retain sufficient numbers of qualified individuals in the markets
where we do business or plan to do business. If we are unable to recruit, train and retain a sufficient number of productive sales personnel,
sales of our solutions and the growth of our business could be harmed. Additionally, if our efforts to improve sales force productivity
do not result in increased revenue, our operating results could be negatively impacted due to increased operating expenses associated
with these efforts.

An
economic downturn or volatility could have a material adverse impact on our business, results of operations or financial condition.

The
United States and world economies have experienced significant economic uncertainty and volatility during recent years. A weakening of
economic conditions could lead to reductions in demand for our solutions. As a result of volatile or uncertain economic conditions, we
may experience the negative effects of increased financial pressures on our customers. For instance, our business could be negatively
impacted by increased competitive pricing pressure and a decline in our customers’ creditworthiness, which could result in us incurring
increased bad debt expense. Additionally, volatile, or uncertain economic conditions in the United States and other parts of world could
lead our state and government customers to terminate, or elect not to renew, existing contracts with us, or not enter into new contracts
with us. Furthermore, demand for staffing services is sensitive to changes in economic activity. Many healthcare facilities utilize temporary
healthcare professionals to accommodate an increase in hospital admissions. Conversely, when hospital admissions decrease in economic
downturns or periods of high inflation, due to reduced consumer spending, the demand for staffing healthcare professionals typically
declines. In times of economic downturn and inflation, permanent full-time and part-time healthcare facility staff are generally inclined
to work more hours and overtime, resulting in fewer available vacancies and less demand for our services. If we are not able to timely
and appropriately adapt to