Why You Should Work for a Small Business in Today's Economy

There are many reasons why working for a small business is a solid career choice.

If you're in the market for a new job, you may be exploring your options. And you may be mostly focusing your search on larger companies -- those that offer solid benefits and a chance to make a lot of money over time. But in the course of your job search, it pays to look at smaller businesses as well. Here's why.

1. Hiring is up

The U.S. economy is still down millions of jobs compared to the number available before the pandemic. But jobs are slowly coming back. And small businesses may be accelerating that trend.

July was the second largest one-month increase for the Small Business Jobs Index, which measures hiring activity, since 2010, according to Paychex. The index is also up 5% from last year. That means there may be plenty of opportunities to work for a smaller company in the near term.

2. There may be more room for growth

When you work for a large company, there's lots of competition, which can make it harder to land a promotion. With a small company, you may be one of just a few people in line for a given role. And that could lead to better career growth.

3. You'll have more of a voice

When you work for a large company, your chances of getting to sit down for a one-on-one discussion with the CEO are pretty slim. But when you work for a small business, you really get to be part of a team, and you get more interaction with all of the people involved in that operation. That means if you have suggestions on how to improve certain processes, the head of the company is more likely to listen to you.

4. You might enjoy a better work-life balance

Many people spent the past 18 months working remotely and having a fair amount of flexibility in their schedules. And if that's important to you, then working for a small company could be a smart choice.

A small business manager may be more willing to work around your personal scheduling needs, whereas a larger company is less likely to make exceptions for individual employees. So if you need to leave work at 4 p.m. to pick your kid up to avoid spending a fortune on childcare, you're more likely to get the go-ahead at a smaller company.

5. You might actually earn more money

The pandemic taught us the importance of having a healthy amount of savings for emergencies, and the more money you earn, the easier it'll be to build yourself a cushion. Plus, a higher paycheck could lead to a more comfortable lifestyle.

Now, you might assume that you'll earn less at a small business since these companies don't have the same financial resources as large corporations. But actually, small business owners tend to be really good at limiting their staff to essential employees only. And since they're paying fewer people, they may have the ability to pay better.

There are pros and cons to working for a small business, just as there are pros and cons with large corporations. But given that many small businesses today are looking to hire, it pays to be open to the idea. It could end up being a great career move for you.