A wave of ‘start-ups’ and small businesses have come to the fore in recent years, hoping to make an impact on the modern labour market. While there’s a definite allure to working for larger corporations – think higher salary, company visibility and defined job requirements – there is something to be said about working for a small business. We have taken a look at the positive and negative aspects of being employed by a small company to help you decide which type of workplace is the best fit for you.
Opportunity to become multi-skilled
A lack of personnel means that job duties aren’t as defined as they would be in larger businesses, meaning that employees often spread their time across a couple of departments. Being able to work across multiple areas doesn’t have to be a bad thing – it’s a great opportunity to pick up new skills, advance your expertise and interact with a wider range of employees. Having your finger in multiple pies can give you a greater perspective of how the business is operating as a whole, as you can see how everyone is contributing to the company’s growth.
Easier to advance your career
You do not have to push your name to the front of a 50-strong pack if you want to advance in a small workplace. Employees generally have greater visibility, making it easier for you to get your work out there and put your hand up for a move up the ranks. Your superiors will be more likely to notice and acknowledge your contributions, giving you scope to make the case for a potential promotion.
Flexible work arrangements
The boundaries are not as defined when it comes to working for small businesses. It doesn’t mean that you have free reign to go on two-hour lunch breaks and leave the office ten minutes early every day – instead, you may have more flexible working arrangements where you can move between the office and home.
While there is an upside to working across multiple areas, it can also amount to a pretty heavy workload. Small businesses face a lack of manpower, so employees often have to go above and beyond to complete all work. This results in workers juggling tasks to keep their workload at bay, which has the potential to create stress.
In the same vein as manpower, there are often less financial resources to go round in smaller businesses. You may have an impressive level of experience but find that you are getting paid less than you would if you were working in the same role at a larger company.
Less job security
While some small businesses soar, others may struggle to meet expectations. It can be difficult for smaller companies to build a client base and attract growth in its initial stages, and this can continue to occur during the business’s life span. This uncertainty can make your job insecure, especially if your company gets to the point where it is facing bankruptcy and closure.