The saying that small businesses are the back bone of the economy is a statement that many people are familiar with and tend to agree with. (Chittenden) Small local Businesses are far different from large big-box retailer businesses. There is so much controversy between the two which causes many misconceptions. One misconception is that small businesses are not only known as small business, but entrepreneurs as well. They consider themselves “serious and committed businesspeople whose needs are not the same as those of a consumer.
(Megalli) Unfortunately, in recent years, there has been a major decline in the sales and profits of those entrepreneurs. This decline was caused by giant corporations taking over the market. The corporate monster that has caused most of the fuss is the Wal-Mart Superstores. Wal-Mart is the “corporate giant [that] destroys local businesses and provides low-waged jobs while being staunchly antiunion. ” (Halebsky) Many small businesses were forced to shut down their operations because they simply do not have the means for competition.
Although big business have some advantages over their smaller competitors heads like money, staffing, and production, small local businesses have just as many advantages that may be small in size but pack a real big punch in the long run. Some of those advantages include technological improvements, independence, quality, and plenty of motivation. Small business owners are effected just as much as big business corporations. The only difference is what they choose to do with it when it technological advances come their way. Small businesses tend to embrace it much more easily than monster over powering stores.
These advances are giving entrepreneurs many opportunities to strive forward in this ever changing economy. (Megalli) Even small businesses have some help on the economic side, local chambers of commerce are even lending a hand to help them become more tech-savvy. In this very hard economic time aid is given to help with the most popular technologies to “help give them an edge. ” (Raymund) Through web-casts, daily e-newsletters, social networking, and job-networking, small businesses have only one way to go, and that is up.
One example of this is “In November, the local chamber of commerce launched an Internet portal called BusinessConnect, where chamber members can seek bids from suppliers and offer discounts on goods and services. ” (Raymund) This was one major initiative that greatly helped local businesses in Nashville, Tennessee. (Raymund) The fast jump into technology these businesses have is because of the size of company they are dealing with. The smaller the business the faster and easier new technology is accepted.
Independence is another great factor that plays a role in one of the many advantages that small businesses have. Not only does it make big business decision easier, it also gives entrepreneurs more choices. They are not held back by policy after policy that large corporations must adhere by. Big businesses have very different cultural attitudes toward business than small businesses do. This makes appealing to local consumers much easier for smaller businesses. Small businesses care more about the personal connection to the customers then just how much profit they made one year compared to another.
Cold hearted big business corporations do not take the time to care about the individual customer needs and wants. Small businesses strive to created strategies that impact the customers in a positive way. (Megalli) They take time to listen to their customers opinions. By listening, businesses can find out “what differentiates your product [from other similar ones sold at other big name stores]” and to “make sure I [the designer/ small business owner] had the features they [the customers] wanted. (Zimmerman) This is achieved by having that personal connection that most big businesses lack. When big businesses focus more on the growth and expansion of their company, they lose sight of some of the most important aspects of a successful business. The most important of those aspects, is the quality and efficiency. Smaller businesses tend to have very strong quality in many parts of their company. This allows small businesses to specialize to appeal to a separate set of customers, which would be impractical for big businesses. Chittenden) From their appearance and friendliness to most importantly their products, small businesses focus more on the quality than the politics which is what brings in the customers in and keeps them coming back. This high quality business that small businesses strive to achieve is what sets them apart and makes them stand out from large corporate businesses. Small businesses even though they lack some qualities, like marketing budgets and buying power, which giant corporations have, they still make a huge impact on local communities.
Big businesses cannot adapt quickly enough before plummeting towards bankruptcy. (Chittenden) Many small businesses don’t have to means to compete with these forceful monsters, but when they fight, they fight with vengeance. They take pride in their businesses and they let it show through their high quality and their perseverance. These tech-savvy entrepreneurs are climbing the business ladder and proving their serious business intentions for success. Even though big business stomps on their toes, it will never completely take over the strong will power of passionate small business entrepreneurs.
Cite this Small Business Advantages
Small Business Advantages. (2017, Mar 16). Retrieved from https://graduateway.com/small-business-advantages/