Micro-multinational companies – an important aspect of future industry and commerce

08-Dec-2011

There is a growing awareness of the important role very small businesses (typically one or two person businesses) have in the future global economy. Especially when these businesses are connected and trading internationally. Having derived more than half its turnover from export sales over the last eighteen years, Hanlon Consulting Ltd. is an example of a micro-multinational company.

In Europe 15% of employed people are self employed, and most work in single person companies. With the impact of the global financial crisis biting deeper and deeper this trend is growing. The internet combined with a more open global economy has helped this trend a great deal too over the last decade. In the past you had to be large to gain global reach. Today micro-businesses can supply services and enter markets with the minimum of bureaucracy and overheads.

But there are also other reasons why businesses, and governments for that matter, need to think more about how to harness and encourage this trend. Micro-multinational companies are run by individuals who are inspired by their own passions and want to control their own economic destinies. Typical attributes are:

  • They are agile responders to client requirements and market needs, lacking the inertia frequently displayed in larger organisations
  • They are frequently superior innovators because of their passions and focus
  • They are efficient with time and expense because time is money for them and they need to be openly accountable for costs
  • They seek out and use other micro-businesses with specialist skills or back-office services as collaborators and as part of an on-line community

I believe that more and more companies are starting to depend on the abilities of micro-companies to help them get their products to market in a timely manner. There is also a growing awareness in companies today of the desirability of bringing together temporary teams of people with specialist skills to produce a specific outcome and then disband. Product development is a classic example of where this practice can be applied, and micro-businesses are perfectly placed to help service this requirement. 


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