3 Ways You Can Level the Playing Field Against Big Business

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November
22, 2020

5 min read

Opinions expressed by Entrepreneur contributors are their own.

Too many small businesses are stuck at the bottom of the economic mountain, watching in frustration as larger competitors hog the top, snagging resources and reaping the benefits.Bigger companies can afford to use quantity discounts to undercut prices. Banks are happy to accept small-business deposits but don’t build strong relationships with credit and loans for their smaller customers.Even programs marketed for small businesses, such as vendor finance programs and dynamic discounting programs, often benefit the large company that takes the discount. Even government help seems to favor the well-connected. Just see what happened with the Small Business Administration’s Paycheck Protection Program.But there are ways small businesses can level the playing field. We can refer to them as the 3 Cs: Competition, credit and connections. Completion: Don’t join ’em. Beat ’em.If the competition feels unfair, change the rules. This may seem daunting at first, but inventive and nimble thinking goes a long way. Consider this real-life example: A woman in Georgia who ran an on-site fueling business for heavy equipment operators found she was consistently undercut by established energy giant competitors. She finally acknowledged she’ …

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