The Benefits and Disadvantages of a Small Business
Small businesses face many challenges that larger corporations do not have to worry about. When you’re a small business, chances are you can make the necessary changes to stay afloat and succeed than a large corporate outfit. Because you’re a small business, though, you’re going to be very focused on a fairly small skill set. You’ll need to hire people to help you run the business, rather than having people do everything. If your skill sets are too small to support an entire business these days, you will face difficulties in staying viable. However, there are benefits of a small business that can help you stay afloat and even grow.
Small Businesses Are Less Expensive
One of the biggest benefits of small businesses is the fact that they are usually less expensive to start up. Even though the profit margins are not as high as they would be for larger corporations, small businesses still have a small overhead and can usually be started on a shoestring. The downside, however, is that because you don’t have as much experience, you won’t know what you’re doing when you first startup. It can be difficult to know which direction to take at first, and you may find yourself making mistakes. It’s important, though, to always have a good mentor or two around to let you know when you’re making a mistake or aren’t paying attention. This will save you a lot of grief down the line.
A Complete Control Over Employees
One of the reasons that small business owners have so much more freedom is because they can hire their own employees. If you own a large corporation with hundreds of employees, chances are you will have to pay a hefty wage to each employee. If you don’t have the money to cover wages for all your employees, you can’t open a small business. A small business owner has complete control over his employees’ paychecks, though. In fact, if you want to be a small business owner, you can even hire employees on freelance websites such as Odesk.
Freelancing is one of the most common ways that small business owners get the word out about their businesses. Freelancers can design websites, write content, build mailing lists, and perform other services for other businesses. There are also businesses that pay freelancers to post advertising for other businesses on their behalf.
Beware Of Cyber Crime
Another way that many small businesses are being infected online is through cyber crime. Cyber crime refers to any type of criminal activity that happens on the Internet. The Internet acts like a giant computer that spreads its viruses everywhere. This makes it very easy for a business to get infected with cyber crime. An infected computer could potentially allow an individual to break into your offices, steal information from your computers, or otherwise damage your company.
Small Business Websites
Many small businesses rely on their websites to help them market their products and services. Without a website, many entrepreneurs may not know where to advertise. Unfortunately, not every business is on the Internet. However, there are still millions of small businesses that have a website. If you have an innovative idea for a business, it is highly likely that you could benefit from establishing a website for it.
You may have been told that if you want to start a small business that you need to have the backing of some larger, more popular business. This may be true for some, but it isn’t necessarily true for all. In many cases, small business owners simply do not have enough money to hire a full-time designer, or to pay for advertising. In some cases, they simply do not have the time to learn HTML and build a site themselves, which means that they can outsource those tasks to other independent business owners.
Finally, many small business owners have tried to get by without employees. When employees come onboard, they often take up office space, which is one of the least valuable real estate costs a small business owner can incur. In addition, employees can take up personal lives, such as spending hours gossiping and engaging in online personal relationships. The bottom line is that you cannot succeed without at least one employee-you need at least two if you want your small business to be successful.