How can local businesses compete against the big chains?

For smaller firms, running their business can feel like a constant case of David vs Goliath. Competition is high and many companies are falling to the wayside, and it takes a very poignant brand of strength and tenacity to survive today’s economic landscape. Ultimately, running a small firm is a very brutal and unforgiving process.

After all, it’s the smallest businesses that are struggling the most with things like Brexit, adding more stress to their already complex processes. Ultimately, there’s a lot to deal with, and competing against gargantuan conglomerates seems almost out of the question. Or is it…?

Consequently, here’s how local/small businesses can compete against the big chains.

The local affect

Plymouth is home to charming local companies like the Tommy Gun Tattoo Studio, Flo Martial Arts, and even Edwards for locally sourced products too. There’s a familiarity rooted in everything they do, which in turn stokes a blossoming kindred spirit between business owners and customers. This is something that the big chains will never have, no matter how many chatbots they put on their websites! Customer loyalty also stems from here too.

Local businesses are, to some, perceived as being more trustworthy. These little startups are the friendly face on the street corner, as opposed to the big faceless corporation that’s operating out of some big warehouse in the middle of nowhere. Staff and customers build a report or perhaps know one another already, further granting stronger incentives to trade.

Specialised trade

As businesses get bigger, so too do their ambitions. Many corporations lose their way at this time, as objectives get muddled and motivations go awry. Suddenly they want to dabble in different industries, but in the end, all this does is confuse the customer – especially when they just want well-made products and produce from a consistent brand.

The best companies remain true to their core, while bigger businesses can buckle under their own weight. There’s less staff to hire, less training courses to implement, no need to furnish and outfit multiple premises, etc. There’s an instilled integrity here that pushes them on to perfect their craft free of excess expenditure, instead of claiming to be a jack of all trades yet a master of none.

A smaller firm can also make quick changes to its business at the drop of a hat and boost the efficiency of their business seemingly overnight. Alterations in any department need to pass through a committee – the owner can just change coarse whenever they please much to their own, and their customer’s, benefit.

Choosing the right supplier

Choosing the right supplier can also be an easier process for a smaller business. After all, there’s less people who’ll weigh in on the decision-making process of what goods the company needs. For example, SGS offer a bevy of quality tools that a small gardening business could take advantage of, and it can all be bought and ordered easily and affordably without fuss, debates or delays.

In contrast, a larger business will need to discuss what they need, budget extensively, order things in bulk annually, send goods to their warehouses to store it, and ultimately step on their own toes with it all sooner or later. Put simply, smaller businesses have an easier time with suppliers!

Conclusion

Local and smaller businesses may not be as bold as the bigger chains, but they certainly have their own set of strengths. If they play to them accordingly in a smart and understanding fashion, they absolutely stand a chance of competing with the larger conglomerates.