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Comparison between different types of business

Business sizes

Businesses are usually divided into different classes depending on either the number of employees a business has or the total worth of its assets. Different businesses fall under the following category: Small, medium or large enterprise. These businesses have different number of employees, and this is what differentiates between the different types of business. Small businesses have around 5-50 employees, medium size businesses have about 50-250 employees and large business have about 250 employees or more.

Opportunities for Small businesses

Small businesses are businesses that are usually privately owned and can also be owned through partnership. It is operated by the owners and has a small number of employees. The government has also put in place preference programs that help small businesses grow, and survive in the competition. Apart from preference programs, there are some set-aside programs that encourage business growth. The government has made getting loans easy for small businesses. This helps them...

There are some government institutions that assist small businesses to develop, for example, the small business association Seley, 1981()
Comparison between small businesses and big businesses

Unlike big businesses, small businesses can begin at a very low cost and also can start as a part-time job. Small businesses are usually in direct contact with the client. This gives small businesses some sort of intimacy and makes them have a greater accountability. This makes small businesses to be more flexible than big businesses in their operations. Small businesses have a lower economy of scale, for example, a large business can get better pricing on its products because they buy in bulk. This makes big businesses to be profitable Andrews & Rogelberg, 2001()

Small businesses tend to deal with scandals more easily as compared to big companies. Small businesses are also known to have a more personal and efficient customer service. This is, however, not always true. Small businesses are at a disadvantage when it comes to providing quality products as compared to large businesses. This is because large businesses often produce a large number of different products and small businesses are left to specialize in one product and this way they can compete with the large businesses Weaver, 2001()

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