Monday, June 20, 2016

Small Business Judo: Using Size to Your Advantage

From AIER:

The common narrative about small business usually goes in one of two directions. First, many predict doom for “mom and pop” firms in America, arguing small businesses must be protected from giants like Walmart, who can charge lower prices.

The second narrative focuses on the benefits these businesses bring to our economy and communities, stressing the need for consumers to “support” small and local business. Notably gigantic firm American Express, for example, sponsors Small Business Saturday every December, encouraging people to “rally their communities” to shop at local stores.

In reality, small businesses are profit-driven entities in our capitalist economy. While regulatory protection and goodwill from consumers may help on the margin, what small businesses need are working strategies to offer the market something of significant or unique value.

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