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Why Small Businesses Matter Small businesses are actually crucial to the success of the economy. It does not only provide success for the future but it also meets the local needs. 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. Even if you do not have your own enterprise you can still be a 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. Nowadays, there are plenty of small businesses. They are mostly 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. Today, most workers are self employed. Because of this companies, people will be successful in the future. There are a lot of small businesses that survive and prosper. Below are the benefits of small businesses: Development of personal relationships
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Small businesses are a good place to build 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 Small businesses also has a change of command. 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. Because small business owners do not need to report and seek for approval from anyone else. Has a low overhead Since there operation is small, they also have a much lower overhead costs. Small businesses operate in smaller areas that has a lower lighting and heating costs and a cheaper rental rate. Since they have a 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 small businesses can sell in much smaller markets. Some examples are jewelry makers and window cleaners.