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Answer:
1. Flexibility: Small businesses experience less bureaucratic inertia. This enables them to respond to changes in the market more quickly than big companies that have to jump through their own hoops. Small businesses can maneuver where big businesses lack the speed. In a world that is continually speeding up, businesses are facing the challenge of adapting quickly.
2. Personal: Small businesses can be personal in ways that big ones cannot. This allows for more meaningful interactions between businesses and customers. Big companies spend massive amounts of money trying to create this same level of personal engagement.
3. Passion: When a business is a run by a smaller number of people or just one self-employed individual you often see more pure passion. That passion hasn’t been diluted by large staff and or altered by a compromised vision.
4. Independence: With less bureaucracy comes more independence. Small business entrepreneurs are able to exercise with much more independence, which is often part of what got them into running a small business in the first place.
5. Best in their niche: It’s hard to please everyone, and where super companies are trying to please the majority a small business can zoom in on a niche and provide them with exactly what they need.
6. Local Contributions: Small businesses typically circulate more of their revenue back into their local community. This makes the local economy more resilient, which in turn makes the global economy more resilient.
Explanation:
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