Today’s news that GM Motors is filing for bankruptcy (making it the biggest corporate failure in U.S history) serves as a reminder to us entrepreneurs and small business owners that ‘big is not always better’.
Personally, I prefer to keep my operations small. Because with the internet and today’s technology, it is much more profitable – and easier -- to run a small company.
And you can outsource everything - from admin to product delivery - at cost effective rates, thereby saving a substantial amount of money on employment fees, office space and overheads.
Another benefit of being an entrepreneur with a small business is that you have more flexibility in adapting to challenges and changes in the market.
Which can’t be said about the ‘big boys’.
There’s no doubt that the economic crisis has affected businesses of all sizes. But because small businesses are not dependent upon the huge lines of credit that big companies like GM Motors need just to stay in business, we have a better chance of surviving this bumpy ride.
So I guess size does matter after all.
Or what do you think?