Small businesses adds to the success of our economy. Not only does it meet the local needs, it also offer success for the future. Some example of small businesses are locksmiths, emergency plumbers, financial consultants and hairdressers. Small businesses actually provide the requirements of bigger businesses. Here are some examples; catering services, printed stationery and photography services. You do not need to have your own enterprise to be part of enterprising. You can be an entrepreneur as long as you have or develop the right attitudes, skills and initiative so you can make a contribution to an organization. Being an entrepreneur is really exciting. There are a lot of small businesses today. These businesses are owned and operated by one person. Small businesses only employ at least 6 people. This kind of small businesses are a good source of employment. Most people are self-employed. Because of this companies, people will be successful in the future. Small businesses survive and proper.
Below are the benefits of small businesses:
Development of personal relationships
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Small businesses are a great place to create personal relationships with employees, suppliers and even with their customers. You actually know who your dealing with when you are part of a small business and you can easily put a face to the people you come in contact with. Person to person interaction is important because it is crucial in building relationships.
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Has the flexibility to respond to challenges and problems
There is also a little hierarchy when it comes to small businesses. Most large businesses have set procedures that are not that easy to change. Small businesses are more flexible than larger businesses. Small businesses can make fast decisions.
The innovation and inventiveness
Small businesses are really positioned to develop and introduced a lot of new ideas. Since the owners does not need to seek and report for approval from another person.
Has a low overhead
The operation of small businesses are small and this is the reason why they have a lower overhead costs. Small businesses operate in smaller areas that has a lower lighting and heating costs and a cheaper rental rate. Because small businesses has lower overhead cost, they can offer a much lower price for their consumers. Larger businesses has a higher overhead cost and this is why the price is too high.
Catering for niche markets or limited markets
Smaller businesses can have profit even with a much lower sales figure. This is the reason why they can sell in smaller markets. Some examples are jewelry makers and window cleaners.