How Small Business Is Making The World A Better Place

Jun 6, 2016 | Business, Updates, Websites | 0 comments

Now is the time to start your small business. Grow your hobby into cash making machine! So many people think big business drives the world. The fact it, it is small business and their loyal customers.

Here’s how your small business makes the world a better place:

Economic Growth

Small businesses are well placed to build personal relationships with customers, employees, and suppliers. There is little hierarchy or chain of command. With a small business you know who you are dealing with; you can ‘put a face’ to the person you are in contact with. Person-to-person interaction is as important as ever in building strong relationships. Your small business contribute to the local economy by bringing growth and innovation to your community. You also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations. Small businesses tend to attract talent who invent new products or implement new solutions for existing ideas. They are well positioned and have less hassle to introduce and develop new ideas. Larger businesses also often benefit from small businesses within the same local community, as many large corporations depend on small businesses for the completion of various business functions through outsourcing.
Adaptability and Flexibility

Large businesses may have set ways of operating and establish procedures that are hard to change. Small businesses are often far more flexible. It can also reach a quick decision on whether or not it can do what is required. Your small business also possess the ability to respond and adapt quickly to changing economic climates. This is due to the fact that small businesses are often very customer-oriented. Many local customers will remain loyal to their favorite small businesses in the midst of an economic crisis. This loyalty means that small businesses are often able to stay afloat during tough times, which can further strengthen local economies. Small businesses also accumulate less revenue than larger corporations, meaning they may have less to lose in times of economic crisis.

 

“Every business was small once. Through good personal relationships, excellent service and competitive pricing, they have grown.”

Schools and Local Government Offices

Due to the lower overhead costs of small business, their prices are cheaper. They can also enter into several different markets, whereas large corporations are more bound to their core business. When consumers patronize local small businesses, they are essentially giving money back to their local community. A thriving local business will generate high levels of revenue, which means that the business will pay higher taxes, including local taxes. This money is then used for local police and fire departments as well as schools.
Future Growth

Small businesses do not always stay small. Large corporations, such as Nike and Ben and Jerry’s, started off as small businesses that grew to become major players in the national and international marketplace. Many computer-industry leaders began as “tinkerers,” working on hand-assembled machines out of their garages. Microsoft is a prime example of how a small business idea can change the world. Small businesses that grow into large businesses often remain in the community in which the business was first established. Having a large corporation headquartered in a community can further help provide employment and stimulate the local economy.

 

Every business was small once. Through good personal relationships, excellent service and competitive pricing, they have grown. Your small business can become something amazing! All you have to do, is get the right people behind you.

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