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Small businesses fear the big players. This is common across industries.
Aspiring and existing small business owners have many misgivings about how to survive.
Small businesses cite limited resources in assets, capital and manpower
as the major drawback in the midst of very big companies.
This can be overcome.
Many of these SMEs give up at the slightest sign of turbulence.
Other intending promoters with good ideas simply shy away,
from founding their own enterprise.
However, there is an advantage in the size of a small business.
Big businesses have their own peculiar challenges too.
This paper will remove the misgivings and reveal how SMEs could have
their own breathing space and survive into the future,
even in the presence of the big market leaders.
This paper will show scenarios of a few small and big businesses,
on how they have fared across some industries; to highlight some issues.
The paper also gives the basic action points that small businesses should apply for success.
For clarity, the action points are further categorized into internal and external environments.
Other cautionary points are identified to minimize errors and failure.
Credible sources and references are supplied to buttress relevant points raised.
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