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Small Businesses are the driving force behind the Indian economy; a report in The Mint even suggests that MSMEs are the growth engine of India and contribute 30% to the GDP, and with approximately 9 crores of MSMEs, you would be surprised at just how many small businesses are in your city that you didn't know about!
Here are some of the common reasons businesses and consumers alike prefer to "Think Small":
Working With Familiar Faces
When you call a large corporate business, what odds you will receive someone you have previously spoken with? In larger companies, that likelihood is very low. When working with a small business, you can talk with the same person you have previously dealt with. Once you've dealt with a small company long enough, it's not uncommon to know each other on a first-name basis, which brings up the next point.
Closer to Our Customers
Then you choose a small business to provide a service; you aren't just a number among thousands of customers. The cornerstone of small companies is establishing personal relationships with clients. For example, it's not uncommon for System3 to know what equipment is in a customer's location and how it helps their business run more smoothly. This allows us to help make better, more informed decisions when solving problems.
Our People are More Flexible
Working in a small business means you can "wear many hats". Since small businesses don't have the budget to have specialists for every task, employees tend to be cross-trained to do several functions. This develops into better "on-the-fly" thinking and better problem-solving skills. How does this benefit you as a customer? More versatile staff solves more problems in less time, resulting in better value for your money.
More Passionate About What They Do
Generally, small business owners are passionate about the work they do. This passion can typically be seen in the quality of service you receive. Small businesses will often go above and beyond to help you out because they know that if you are happy, you will inevitably tell other people about your experiences with that business. These types of referrals drive small businesses. After all, a good referral from a trusted friend is the best marketing a company can ask for.
Quick to Change
A significant benefit for small businesses, especially those rooted in technology, is the ability to adapt and innovate. This is because there are fewer management levels and less red tape. Small businesses can react faster because of this. As a customer, it means quicker turnaround, particularly on more extensive project quotes and estimates. This type of agility often allows small businesses to outmaneuver larger companies and innovate faster.
Stimulating the Local Economy
By purchasing from a small business, you are helping the community. More local revenue for a small business means additional tax revenue for local government, which supports local police and fire departments, schools, infrastructure, etc. It's estimated that for every rupee spent with a small business, 45 paise stays in the local economy.