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A Guide to Small Business Matters Small businesses are actually vital to the success of our economy. It meets the local necessities and it offers success for the future. Example; financial consultants, hairdressers, locksmiths and emergency plumbers. Small businesses actually provide the requirements of bigger businesses. Catering services, printed stationery and photography services are some example of larger businesses. You do not need to have your own enterprise to be part of enterprising. Being an entrepreneur just means that you should have and develop the right attitudes, skills and initiative so you can make a contribution to an organization. It is exciting to be an entrepreneur. There are a lot of small businesses today. They are mostly owned by a single person. Most small businesses employ less than six people. Small businesses are a great choice of employment. Most people are self-employed. Some of this workers became successful because of small businesses. Small businesses survive and proper. Here are the advantages 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 have a small business because 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 chain of command 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. Another good thing about small business owners is that they do not need to get the approval of anyone else. 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 Small 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.