New small business innovation report

Posted by: John Tozzi on March 16, 2009

Just out this morning from Steve King: a new research brief on small business innovation, part of the ongoing Intuit Future of Small Business research project. I still have to dig into it in more detail, but one of the key findings is that small business owners are often “natural innovators” across industries (not just in tech or high-growth areas) even if they don’t think of themselves as innovators.

Here’s a nugget from the report on the small business innovation advantage:

Because of their size, business agility and deep customer understanding, small businesses have several inherent innovation advantages over large corporations. They can more readily identify opportunities, quickly react to changing market and industry conditions, and nimbly compete with bigger competitors.

We’ll have more on this soon. In the mean time, check out the report here.

Reader Comments

Tony Vignieri

March 18, 2009 12:29 PM

No surprise that small business owners are natural innovators. Many are in business for themselves because they knew of better ways to do business and not just to produce and promote a unique product or service. As the report notes, these small business owners are closer to their customer base as active members of their communities and, as such, have a better "read" on people and can instantly adjust to their ever-changing expectations. That level of intuition and nimbleness is integral to innovation and the people behind all those bright ideas.

Tony Vignieri
www.vistage.com/economy

Adam jacobs

March 24, 2009 1:20 AM

Having recently started a small business, after 15 years of corporate enclosure, it is releasing to be able to make decisions quickly, adjust, tweak and react to the market place in an instant. Without the shackles of introspective corporations you find great freedom. I think more professionals should review the option of small business as a career step and release their creativity.

Adam Jacobs, Distribution Manager
http://www.lunardrift.com

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What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

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