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Written by: Raymond Fohjem

The advantages of small business

Why you should set up a small business

In one of my recent articles, ‘Why you should start a small business, I talked on the ease of starting a small business, but in this article, I am going to bring out some of the major advantages of small business which many people seem to know but know very little or nothing.

So, the methods I compiled in this article, coupled with the previews article, will perform as some kind of help or support in adding some $$ in your wallet while doing less or having a great time.

Have you ever wondered why most famous companies and businesses we have today started as small businesses? Do you think it’s highly due to lack of capital or expertise? Very far from that.

In this regard, nothing to them happen by chance. They had to start that way in order to secure the business and its future existence. In this article, I am going to explain to you why many people started their businesses in small forms and the advantages of small businesses.

The advantages of small business

Below are some of the advantages that come as a result of starting small in any form of business be it in real world or online world;

  • Little knowledge: Do you think one can set up a grand size business without adequate knowledge or mastery of the targeted business? That would just be an impolite way to invest unwisely. But this is the reverse of small business. One of the advantages of small businesses is that you can start with little knowledge or expertise and continue learning from it. Like in the online world, I know of many bloggers who started making money online blogging without having full know of HTML, PHP etc. while such can’t be done with the big size businesses and those who usually try this always encounter failure at the end.
  • Starts instantly: Do you know why most big business usually starts as a project (taking much time before going operational)? Do you think they just like wasting time? Before a big size business starts, the founder has to compile certain documents while carrying out research and so the process is delayed. But this is not the case with small business. Do you know that you can decide to start up small and within just few days, the business is live? For example, It took me just about 6days to have this website (xKnowHow.com) live and this was just because I had to spent part of these days marketing and setting up the pages for the site and so, I never went through all those weird processes.
  • Easy to learn: One of the advantages to a small business is that it’s usually easy to learn the necessary skills needed without having to enrol in certain courses. Just by watching someone in the same field is already enough for an individual to start.
  • Work any time, anywhere: When you operate your own business, you set the schedule of the business according to your own schedule. This means that, if have other things to do, you can still schedule the business so that it doesn’t clash with even your social life, right? For example, I work on this site just 3hours a day and have enough time for other things in my life while I watch my wallet accumulates each day.
  • Very little or no risk at all: Another advantage of small business is that; the business will have very little or no risk at all. If you decide today to stop running it, you won’t have to incur loses. This is because; you never invested must out of the business sphere like in the case of documentation, research cost, advertisement cost, promotions etc. which big business must pass through. So if it doesn’t work out well, you have very little or nothing to lose after all.

Finally, small scale is the beginning

Finally, starting a small business does not tell who you are or the level of your bank account. All great businesses started at step one before reaching that level today. So, stating small is just a means by which you invest wisely and secure the future of the business.

With all the advantages of small business, you have nothing to worry about setting it up. All you need to do now is to spot out what you want to invest in and seat and watch your bank account grow every day without exhausting your brain and energy.

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