Small Business – 4 Reasons You’re Too Small to Fail



Mural by Luke Buchanan, Raleigh, North Carolina

It’s a bit bumpy lately, right? 

While we’re all on this roller coaster, I want to remind you just how important your small business is. And, that you have some advantages that big business doesn’t have access to.

How many small businesses are there?

First, let’s stand up and applaud the fact that small businesses represent 90% of all businesses around the world, and 99% of all businesses in the United States. There are over 32 million strong in the US alone. So yah, your business may be considered small, but you’re part of something extraordinarily powerful.

1. Small business is critical to the local economy.

For your town and surrounding area to thrive, small businesses in that area need to be successful. When customers utilize the services of a small business, they’re giving back to the local community when the business pays their taxes, including local property tax. This money supports the local emergency response teams, schools and local projects that increase property value. 

2. Small businesses employ local workers.

Small businesses are the only ones that can flex and serve a reduced local population. They hire employees who may not be hired by other larger businesses, and have the unique opportunity to create new roles that serve the company as well as prospective employees.

3. Small businesses are full of entrepreneurial spirit.

The innovators, entrepreneurs, and creative minds tend to seek out small businesses in which to lend their skills and talents. Why? Because a small business has more opportunity to be innovative and try new ideas – without the red tape of big business. Have a new strategy? You can implement it as soon as it’s ready without waiting for approval.

4. Small businesses can, you got it, pivot.

Need to adapt? No problem. Small businesses are customer oriented and have a unique understanding of the needs of their customers and community. This builds customer loyalty, so when there’s an economic downturn, small businesses can still thrive because they have a loyal customer base. 

Your small business is bigger than you think. You’re increasing the local job market and revenue. You serve in a more personalized capacity. And we all need that right about now. 

Stand tall and proud in your small business, and keep serving!

 

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