Chicago small businesses can survive big business competition

What do you want to do when you grown up? While plenty of adults in the Chicago area are still mulling that question over, many others know they want to have their own business. They may be holding back from chasing that dream for a variety reasons including the fear that there may not be room for a smaller business in a world made up of much larger businesses. Others may be concerned about what happens if one is successful-- dealing with the wrath of the competitor. The reality however is that this may be easier to overcome than one realizes.

It is true that successful small businesses will undoubtedly find that they need to grow. This can be a scary prospect for a company that has primarily made its money by flying under the radar of its much larger competitors. The more successful a small business becomes, the greater the risk that it will become a target for the larger business. Some may feel that they are ultimately setting themselves up for a fall.

Small business owners should be aware that many times this is not the case. In most situations, a business would have to do a lot of expanding before it would shed the hallmarks of a closely held business. As it turns out, maintain a small business identity is often an asset.

While it may not be possible for a small business to launch large marketing campaigns or drastically reduce prices on products on a whim, like their larger counterparts, they may be able to follow other courses of action that are unavailable to competitors. Most notably this includes being able to put energy toward providing a focus on customers rather than having to deal with administrative issues that inevitably arise in larger businesses.

When approached correctly there can be room for businesses of all sizes to succeed in the Chicago area. To accomplish this, many in this situation find it helpful to work with a lawyer who is aware of what some of the pitfalls in business could be.

Source: NBC Chicago, "The Secret Advantage All Small Businesses Have," James Ellis, Jan 14, 2013

  • We handle small business matters. For more information on the topic, please visit our Chicago small business page.

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