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The Economic Perspective: “Big and Small Businesses”

Mary: This is Mary Walden with economist MW, welcoming you to the economic
perspective. Today’s program looks at big and small businesses. Mike, often in life there
appear to be uneven playing field. For example, in sports, teams playing each other
typically don’t have the same quality of talent. This disparity leads some of us to root for
the less talented team. Do we see similar differences in the business world?
Mike: Summary Answer
a. Of course – there are big and small businesses
b. Big businesses have the advantage of size – research shows this helps in obtaining
loans, getting better deals from suppliers, and being able to survive in a recession
c. But small businesses also have an advantage – more flexibility
d. Can change and adapt more rapidly – less bureaucracy – can move quickly
e. So, while being big is still likely, on average, better, being small is not always bad
f. I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension
program from the Department of Agricultural and Resource Economics.