It can be easy for small-business owners to become downhearted when faced with endless red tape, tax and regulation. But the good news is that when it comes to making the most of lucrative business opportunities, small can be beautiful. You do not need a sledgehammer to crack a nut. This is why, when it comes to exploiting new high-margin markets, small businesses often have an edge over much larger competitors.
Daniel Ronen, director of Portman Business Consultancy, said that being small could be a positive advantage. “Being a small company means that you can get into markets that are not viable for large businesses.
“Big companies sometimes find that it is just not worth investing in a market because the returns would be too low to justify the effort. But as a small business you generally have a lower cost structure. So where markets are not big enough to support a number of large companies, smaller suppliers of niche products or services can make very good profits.