Take a Peek into Small Business
By definition, a small business employs roughly 500 or less people. Typically, in our minds we automatically imagine 'ma and pa' shops. However, nearly every small business is started in this manner, so it's logical we see it this way. We need to dig deeper and ask ourselves what it is that small businesses can offer us that big businesses or corporations cannot.
Corporations are known for producing a wide variety of products, manufacturing all over the world, and putting competitive price tags on their items. Yet, the most cutting-edge products and services nearly always stem from small businesses. Large corporations have more risk when it comes to developing a new product while small businesses are willing to take a risk simply in search of success through trial and error. Small business is driven by entrepreneurs and advances every part of products as we know them.
Starting a business is not for the weak hearted, especially when it comes to financing the operations. It is a known fact that large businesses can obtain loans and financing easier than a new business. Large businesses have a history which banks deem to indicate stability and security. Corporations maintain its operations easier than other types of business by receiving funds from stockholders. Yet, how are these small businesses able to keep going
Big Business Realizes Competitive Advantage in Small Business
Recently a new trend has started internationally; well-known companies are joining up with tiny companies that are unknown to most of the world. The reason The competition between large firms has increased to the point that the traditional ways of gaining consumers is not sufficient anymore.
Finally, small businesses are acknowledged as competitors in the global market, so corporations are researching and attempting to take small advancing companies under its wing before another company beats them to the punch. Corporations need promising entities and small businesses, along with a developed idea or product gives this to them.
Small businesses benefit from this venture as well. Large companies have the advantage of having a trusted and well-known brand name. With this in its hand, its product or service can reach consumers that it could not before. Overall, it's a win-win situation.
The Benefit to Consumers
We cannot ignore the most important part of this mix. Consumers are offered advanced products, backed up by certainty, and given at an affordable price. There are obvious differences in products as they are modified to compete with other products on the market. It is not a "one-size-fits-all" any longer where it is difficult to find any difference at all. We also do not need to settle for a slightly problematic product when we know another product will come out to fix it. We ultimately are the winners!
Consumers and small businesses are taking the wheel of large businesses and driving it to places where our products are nearing perfection.