Can small businesses thrive among mega businesses

[Carpon]

This is a very frank question and it aims at ascertaining the level of profitability of a small business which was set up among other mega businesses.

Such a business may have to battle with the issue of getting patronage since people generally have the impression that items bought and purchased in large stores are cheaper, better and more qualitative than those purchased in small business outlets.

Actually, a small business can thrive but only if it has the ability to withstand the many limitations and circumstances that will come its way. The owner of such a business must have to obtain a civilization higher than that of those around him.

You cannot compete in such a condition but rather you will find ways to win the heart and trust of buyers. If you try to compete with others, you may end up killing your business, but find ways that you can subtly traffic more patronage and build your business.

 

[Etini]

Before any person starts a business, he/she has to devise a strategy to penetrate the market and also stay afloat. I believe small businesses can compete effectively with mega businesses without being swallowed up. I think it is a little bit dependent on the kind of business. For some businesses, your critical success strategy could be the personalized delivery of goods and services. You build a personal relationship with your customers that they can't get from these mega businesses. With that, you can gain consumer loyalty. Target marketing is also important. Understand the specific needs of a certain set of consumers of that product/service and tailor your package to rhyme with these needs.

There is a reason Chinese phone manufacturers are doing well even when Apple Inc and Samsung are still in the industry. They tailored their products to meet with the specific needs of consumers in Africa and the developing world. That is target marketing.

 

[Yusra3]

Small businesses can thrive among mega businesses. While mega businesses have the resources and infrastructure to keep up with their larger competitors, small businesses are not just "the little guy" in the world of business. In fact, they have a lot of advantages.

One of the main advantages is that they can be nimble. They don't need to be stuck with out-of-date technology or expensive equipment because they can change things as needed without having to spend a lot of money on it. This allows them to innovate quickly, which is important for small businesses in particular because they often need to stay ahead of the competition by coming up with new ideas on how their products could work better or improve existing ones.

Another advantage is that smaller companies often have fewer employees than larger ones do. which means that it's easier for them to find new ways to cut costs and make money while still remaining profitable overall (rather than relying on cost-cutting measures that may lead to layoffs).