What Competitive Advantages do Small Businesses Have Over Larger Companies?

Being a small business isn't a bad thing. In many areas, you can have many advantages over larger businesses or corporations. Here are a few examples of advantages you might have as a small business:

• Faster decision-making process
  With a business that has a limited number of employees, it can be a much quicker process to get going on projects, make adjustments, or get approval. In larger companies, there can be a lot of hoops you have to jump through or wait time to get the approval that you need to move forward on a project. With a smaller staff and more involved leadership, you can make changes and get approval for projects significantly faster. 

• Empower and develop your team
  In a large company, it can be hard to connect with all employees and have the opportunity to work with everyone one-on-one. In a small business, leadership has the opportunity to train employees and personally have an impact on their day-to-day activities. Smaller teams of people allow for a more personalized approach and allow for more employees to have a say in business processes. This can also help individual employees to feel more valued and that they have a voice. 

• Personalize customer service
  Customer service is a key part of building a strong customer base and audience. In a smaller-sized company, customer service is often more personal with quicker response times. In large companies, customer service is often automated and delegated to a third party. Instead of trying to cater to your customer base as a whole, in a small company you can tailor your services to benefit each customer individually.

• Access leaders directly
  Those in leadership positions are more accessible to all employees in small companies. They usually are more hands-on and can be reached easily. Being able to have direct and effective communication can help resolve issues quickly and efficiently within the business.

• Prioritize your local community
  Getting involved in the community as a small business can help you gain more recognition and grow locally. Having the ability to easily connect with the community is a huge advantage for a small business. The trust that is built by connecting directly with your customer base is huge. Large companies do not easily have the ability to do this as they are likely based in many cities across the country and often don't make the time to connect directly with the customers in every city they are based. Building community relationships shows your local customer base that you care about them and creates an authentic connection. 

These are just a few examples of the competitive advantages that small businesses have over large corporations. These advantages can lead to great success and growth for your business. Being able to operate your business on a smaller scale allows for happier customers and more satisfied employees in the long run.