05 Jul Top 10 benefits of being an SME
Rather than taking the steps to grow to the same scale as their larger counterparts, small and medium enterprises are increasingly embracing the lifestyle and sense of freedom that sets them apart as unique, distinctive businesses. There’s a sense of locality and familiarity that comes with being an SME, which are both attractive characteristics in the eyes of potential clients.
Great relationships with clients
It’s inevitable that smaller businesses are going to have a lower number of clients. However, in these environments employees tend to have good relationships with their clients, giving them more time and having more meaningful interactions. This results in a highly personalised service, and clients’ needs are often met more accurately.
When there are less employees in a single workplace, it’s significantly easier for people to get to know one another on a personal level. Forming deeper bonds becomes easier, and as a result, employees can pick up on particular strengths and qualities – which ultimately improves teamwork skills and performance. Knowing your colleagues on a more personal level also makes the working environment a much more comfortable one – and this is often reflected within the level of service given.
Smaller businesses tend to be more flexible, as there are less individual needs, collectively, to cater for. The simplicity of the employment structure allows for easier adaptability to individual requirements – whether that’s working from home two days per week, working flexible hours or attending family commitments.
Those who work for small businesses tend to live within walking distance, or a short drive away from their workplace – ultimately contributing positively to the environment. Smaller businesses also tend to be more aware of their local community, and so take active steps to reduce their consumption of waste and energy costs.
Smaller companies tend to have a niche and/or specialised service that distinguishes them from other businesses. This can instil a strong sense of confidence amongst potential clients as they’re provided with a service that meets their specific needs.
Camaraderie and team spirit
The personal relationships that can be secured amongst smaller workforces help to create a strong team spirit, whilst instilling mutual goals. Each individual in an SME is crucial to the success of the business, therefore creating mutual respect and an undeniable sense of camaraderie.
It’s inevitable that a business with 10 employees is going to consume much less energy than comparatively larger corporations of 200. There are less computers running, for example, which reduces both initial and maintenance costs. In many cases, the money that’s saved on resources can be used to offer a lower price to potential clients – making them not only a more specialised, but cheaper option.
Unique and distinctive
By contrast to national conglomerates, local businesses can offer one-of-a-kind products and services that are distinctive to their mutual values and unique to their area, setting them apart from other companies in the industry.
Within an SME, decisions can be made and actioned much more efficiently. Rather than having to filter through and be discussed by a large group of people, rules are often made by the employer and communicated to the employees directly. Employers of small firms are also better able to make changes that meet the company’s specific needs, taking locality into consideration.
Less stressful environment
Perhaps one of the most beneficial aspects of small businesses is their tendency to experience less stress. Employers that prioritise running a stable business rather than growing it quickly are less likely to face periods of financial deficit and, ultimately, intense pressure.
If you’d like advice on how you can best maximise your services as an SME, please click here to speak to a member of our team.