WHY ARE SMALL BUSINESSES DOING SO WELL IN SPOKANE?
There is a lot of potential for small business here in Spokane, Washington. Many seem to gravitate towards the bigger companies. But what many fail to realize is, it’s the smaller businesses in Spokane that offer the greatest chance of success. http://www.bls.gov/eag/eag.wa_spokane_msa.htm
Let’s take a look at why small businesses in Spokane, do so well.
1) There is an unlimited potential for growth. It’s the smaller companies that offer the best options for their customers. The bigger companies tend to stay stagnate and work within certain limitations. The smaller businesses don’t have that issue. This makes them a prime candidate for expansion, when the time comes. Companies that budget their money right, allocating a hefty chunk to Internet advertising and SEO, are thriving. Companies like the Spokane’s SEO provider NotSEO.com help small local businesses get more customers from the web.
2) It’s the smaller businesses that offer the best hope and chance for employment. Sometimes when a person goes for a job at a larger company, the chances are much slimmer. Over the last few years, Spokane has been contributing to about 50% of the expansive growth rate. That is over half, when compared to the whole job market.
When someone does get hired to one of these smaller companies, they chances of them staying there are increased. Small businesses tend to keep their employers a lot longer then other companies. They also value their employees much more. Since the company is so small, the boss can spend one-on-one time with each employee. That does make a difference at the end of the day. It’s the difference between keeping your employees and seeing them walk out the door.
3) Smaller businesses can handle the change in market much better. The larger a company gets, the more some of their brands become known as a “luxury”. In this day and age, most people can’t afford to spend extra money on frivolous items. The smaller companies can understand this no a level that other companies can’t. So they can respond to the changes. They can downsize when they need to, and upscale when the timing is right. The larger companies don’t always have that option. If they do, they end up throwing out the baby with the bathwater.
4) The management and the concept of innovation add to the success. Most small businesses only have a few supervisors or managers. The employees only have to hold themselves accountable to two or three people. With larger companies there is the issue of “too many chiefs, not enough Indians.” Everyone has an opinion and they like to throw it around, as much as they can. Smaller businesses won’t have this issue. The concept of innovation is also a lot more appealing. The ideas are considered a lot more by the management team. Each individual really feels as though he or she is a part of the family.
An added bonus, when compared to the larger companies, smaller companies handle productivity much more efficiently. Everything is more stream-lined. This helps the company do well and increase the profit. When the productivity is up, so is the morale of the company.