Business development is an important aspect, especially for smaller corporations. It acts as a compass and a guide towards the direction the company intends to follow. Clarity is the root of any business and creates a step by step path to success.

This is an advantage to small business owners. When operating their businesses, small business corporations already have an idea of their niche. This focus allows them to maximize on building relationships with their consumers, business partners and suppliers. Smaller businesses tend to give a positive personal touch which larger companies may lack. Consumers respond by returning to pay for services.

They also create job opportunities. Small business corporations easily offer employment opportunities to graduates and allows them to gain experience. Small businesses are important for the economy, filling the gap where large organizations may not have the time to focus on due to targets.

In small business corporations it is not uncommon for one person to play more than one role in an organization. Roles need to be defined clearly to ensure that an organization runs smoothly. A possibility of one person running the organization is also a possibility. These organizations may struggle in the beginning, but if their business development plan and strategy is sound, things should flow smoothly.

Some small business corporations have little or no knowledge of their industry, unless they learn through their mistakes. Learning from their and other organizations’ mistakes allows them to learn quicker and faster. Networking and building relationships with other organizations within the industry assists in improving engagement and business development.

Smaller businesses are more flexible and leaves room for negotiation especially when it comes to the company policy. They are able to move according to the current market trend. As they have a set niche their focus allows them to produce results.