Published by:
Harvard Business Publishing
Length: 9 pages
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Abstract
The latest research on the role of small business in the economy identifies three intriguingly counterintuitive claims. First, small business is most important where it is least predominant -- manufacturing. Second, the real issue isn''t size, it''s industrial organization -- the quality of relationships tying small companies to big companies and to each other. Third, a country''s capacity to build strong protection networks of this kind constitutes a new form of competitive advantage -- one in which the United States is relatively weak.
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Abstract
The latest research on the role of small business in the economy identifies three intriguingly counterintuitive claims. First, small business is most important where it is least predominant -- manufacturing. Second, the real issue isn''t size, it''s industrial organization -- the quality of relationships tying small companies to big companies and to each other. Third, a country''s capacity to build strong protection networks of this kind constitutes a new form of competitive advantage -- one in which the United States is relatively weak.