Question

Which statement accurately depicts an advantage that small business has over big business? Multiple Choice If the small business owner can project his business as being big, if not very similar to big businesses that sell in the same industry, then he will realize a significant advantage. The size of the business (small being better in this case) is an important consideration in the management of legal, payroll, and tax concerns. The slower pace of small businesses translates into better quality for its customers. A small business can maneuver and change quicker than most large businesses can. It can react to market conditions and customer concerns much faster.

Answer 1

It can react to market conditions and customer concerns much faster.

Step-by-step explanation:

Small businesses have either of the the following characteristics

1. they are privately owned partnerships or corporations
2. they are sole proprietorship
3. they require less capital
4. they do not have a large number of workforce

Large businesses have either of the the following characteristics

1. they are usually publicly owned
2. they have a large number of workforce

Advantages of Small businesses over large businesses

1. they are more flexible
2. they have a better customer relation
3. they are better able to specialise in a particular area
4. there is greater opportunity for employee development