There is much to be said in favour of small businesses and the impact they have on our Canadian economy.
If you are a small business owner (with 5 to 100 employees) or, as in my case, a micro-enterprise (1 to 4 employees), you might be interested to know that you are one of 90 percent of all businesses in Canada. About 48 percent of the total labour force works for small businesses. These are impressive numbers! Obviously, small businesses have advantages that are beneficial to everyone, owners and consumers alike.
The key advantage of being a small business or a micro-business is, quite simply, our size. I believe that it is our smallness, the very essence of our businesses, that is our biggest selling point. Here’s why:
We are focused on our market
It is precisely because we are small that we can focus on our ideal market and cater to the people who need our products and services the most. We aren’t diluting our customer base by trying to appeal to the masses. Instead, we concentrate on relating everything that we do on a select group – our niche market – those who will benefit most by what we are offering.
We are specialists
We are often highly specialized in our area of expertise, which means that our product or service has been ‘fine-tuned’ to satisfy our customers. Providing clients with high quality products and services, that are exactly what they need or want, helps to build confidence in what we offer. As a result, our business will be top-of-mind when they want our products and services.
We offer a personal customer experience
Smallness breeds intimacy. By their very nature, smaller businesses offer a more personable customer experience. We know who our customers are as individuals and we are accountable for how we treat them. Familiarity and accountability both encourage trust in our business and establish customer loyalty.
There are many more advantages in being a small business, but suffice it to say, that a large portion of our society chooses to do business with us when they need the products and services that we offer.