Can small business innovate?

Every company needs to innovate if they want to get successful in business performance. Through innovation, they can gain a lot of profits since they can cause potential buyers to buy and use their products or services.

Innovation may be easily done by big companies. So, what about if a small business (SMEs- small medium entrepreneurs) just begins their business? As we know that when a beginners play in a market, they always imitate from their competitors and it is a common situation since they need to adapt with new situations in market when entering new environments. The small company needs to adapt with the previous products when they start up new business.

Imitation is actually not good for the long run business if they want to sustain in competitive advantage as well. So, it is really important for small-medium entrepreneurs to change the products, technology or processes as soon as possible. They need to find new designs after adapting in new situations if they want to make customers feel ‘wow’ or feel exciting with. It means that the company should compete with others with good quality in products and low price so that customers will consider willing to be loyal.