Small Business Benefits

1964 Words 8 Pages
Small businesses are vital to the success of the economy. Each year brings more national chains displacing locally-owned businesses throughout the country. We see big business chains replace unique establishments all the time. Over 90 percent of businesses are considered small businesses. Not only do they provide success for the future, but also because they meet local needs (i.e. hairdresser, financial consultant, plumber). Small businesses benefit both the economy and consumers because they revitalize economically depressed areas by creating many new jobs in the local area, are more reliable, provides support to your local community, has a great amount of importance in the country 's exports and employees can benefit more. A small business …show more content…
I would argue our economy is still in decent health due to the employment generated by small business during economic lows. Even though it may seem like small businesses don 't have as many job positions to fill as the big corporations, it 's the exact opposite and this shows just how much impact it would have on the economy if these local small businesses were not popping up in the area around you. Not only are small businesses major employers and job creators, they also pay a significant chunk of U.S. workers ' paychecks. The Small Business Administration figures indicate that small businesses pay out 44 percent of the U.S. payroll annually to their employees. Members of the workforce that have a harder time finding a job, such as women, minorities,and welfare recipients, find employment easier within small businesses. Low income areas often attract small businesses because of the lower cost of operation. These less developed areas that attract these small businesses often grow economically as a result of the new jobs it creates, …show more content…
In an interview done with Leah McMahon, owner of a gourmet coffee shop in Gresham, Oregon it showed that if you go to small businesses instead of bigger corporations you will receive better quality products from the smaller businesses. This is because McMahon says “you have to have a more hand on attention to detail.” Majority of the small businesses know exactly what kind of product or service they are giving to their consumers (McMahon). On the contrary, many big businesses loosely monitor their product quality. Most big corporations miss many problems that would have been fixed or avoided if they had more of an “attention to detail” attitude. Another way businesses create a better product for the consumer is that you can expect that a smaller business will deliver stronger and better customer service. It is also known for smaller companies to be more flexible in their customer support and have more of a willingness to bend rules if necessary (Leinbach-Reyhle). The value of an individual customer is always greater for small businesses than for large corporations. Most times, in an effort to cut expenses, the “giants” will make significant compromises in quality and service (Leinbach-Reyhle). Many people refer to the “pulse” of a business as the stream of material events as they happen. Every day, customers make many

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