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The Power of Small

Think about this for a moment: do you like working with small companies over larger ones?

If you said yes, you are not alone. You are among the growing number of people who see great value in hiring small businesses to provide products and services. Diane Helbig, author of Thriving in the New Economy, states,

“The New Economy is one where small business has the advantage. What is it about small business that is unique? Today’s small businesses are lean, smart, complex – eternally entrepreneurial – not just small versions of big business. These entrepreneurial models are the survivors in today’s economy.”      

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Why choose a small business?

Small businesses are nimble. They can change direction in response to client or market needs much more quickly than a larger company does. Large companies have many layers of people and processes that can sometimes bog down getting a clinical trial up and running or a product to market. Smaller companies can have just as robust processes to ensure quality as a larger company, but can usually move through those processes and procedures more quickly because they are smaller and have fewer people that need to review each phase. In addition, because employees of small companies have to be able to wear several hats, they bring a unique set of skills to your project. Often, employees of small companies are capable troubleshooters, who can identify innovative solutions to tough problems.

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Image courtesy of sixsigmadaily.com

Small businesses feel like family. A spirit of family is an advantage that small businesses definitely have over larger ones. Employees take a personal interest when they feel vested as part of a family-like unit and this can create tremendous energy during crunch times. A family atmosphere and approach leads to treating customers like family as well. Some of the best customer service comes from small businesses with that “personal touch”, where the company can respond to customer needs and challenges more quickly and with individualized services.

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Small businesses run lean. By definition, small companies have to operate with fewer employees, fewer layers of management, and fewer degrees of separation from the business and the customers. This feature allows small businesses to make decisions quickly and promotes flexibility and adaptability. It also allows each employee to be closer to the customers, identifying problems and risks earlier than is possible in larger companies.

According to Brian Hill in Big Business vs. Small Business, small businesses drive the economy in the US with more than 60% of new jobs arising from small businesses in the last 15 years. They create an opportunity for individuals and families to reach for their dreams and to develop something tangible of which they can be proud.

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The next time you are looking for a new service or product for your clinical research needs, consider the power of small!

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