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.