As we have seen recently with Volkswagen, big businesses can get themselves in all sorts of trouble. When businesses get big they can lose flexibility, lose control and sometimes lose their moral compass.
Once a business is listed it becomes more accountable to its shareholders and the focus can move away from what’s best for the customer, or the environment, and towards keeping the share price up.
Small businesses, on the other hand, do not have these issues, they have the ultimate flexibility and because, more often than not, the shareholders are those running the business, invariably if the business is to be successful it needs to treat customer’s right and take an ethical stance.
Working with small and medium sized businesses is fantastic because their owners are truly the masters of their own destiny.
I suppose I am a bit biased, I was brought up in a small family business, my accountancy practice focuses on small business and I love every aspect of owning and running one. I have worked in larger businesses both national and international and have seen what can go on, the clicks, the empire building and the politics. Take it from me small is beautiful.
I can have more impact in one day, on my clients businesses, than I would of have had in a lifetime at the investment bank I working at 10 years ago.
I have seen the flexibility small business owners have, first-hand, with owners changing tack to take advantage of emerging trends or introducing new profitable products at a moment’s notice. The point is they can do this and this keeps them competitive and agile.
Small business are responsible for around 50 % of all employment in the UK, 15 million people employed, not by big multinationals, but small, often family owned, businesses.
In my opinion the help given by government for small business is not in proportion to what they contribute to the economy, in fact each year it seems to get harder with less and less help. Does that put the small business owner off? No way! In my experience it makes them more determined.
So yes you can keep big business small business get my vote any day.