Small businesses, big opportunities

October 21, 2010 by admin
Filed under Careers Advice

Working in small or medium-sized enterprises (SMEs) can open up doors not available in a bigger organization.

From the start, you will be right in the middle of the action of the working world, rubbing shoulders with colleagues and clients from various backgrounds. Unlike large organizations where you have a defined role, you will likely be wearing multiple hats and be engaging in a variety of tasks and assignments in a small organization. Playing multiple roles urges you to address each problem from various angles and as a result, you will be able to experience different facets of the industry earlier and faster.

Little drops make up the mighty sea
Presently, Hong Kong is reported to have more than 300,000 SMEs, many of which are family businesses that are involved in trading and services. The service industry contributes to more than 90% of Hong Kong’s economy. The sectors to watch are financial and professional services, real estate development, trading and logistics.

When you are hired by a relatively small establishment, there are numerous opportunities for you to learn about how businesses are run, whether they are operating in tourism, retail or shipping. For example, if you are an accountant in a small engineering firm, the cosy atmosphere and the way colleagues relate directly with each other will soon allow you to understand how the salespeople and engineers put all their skills together to get the job done and bring profits in. You are likely to have chances to become more involved in a wider variety of business operations. Over time, you will learn to do a little bit of everything – managing, sales, promotion, marketing, and even events management if your employer is participating in trade shows or conferences.

It’s a common assumption that one can expect to earn a smaller salary and fewer benefits in a small company. However, that is not always the case. For example, if you work for technology startups, you could be given stock options as part of a compensation package, which could be worth a lot. Further, many graduates are able to acquire hands-on experience on how to run a business in small companies, and may end up starting their own business in time. The value of each job is not measured by remuneration alone.

In terms of career progress, your chances of rising swiftly in a small company are better as you would not have to contend with the corporate hierarchy which features strongly in bigger establishments. While an SME may not offer as many positions or levels as an MNC (multinational corporation), chances of advancement can be higher compared to a global company where as many as 20 people on the same level may be vying for the same promotion opportunity.

If your superior likes your attitude and work ethics, you could be up for a promotion very soon and before you know it, you are being recognized for your good work with a better designation and salary.

Getting in
Like most employers, SMEs prefer graduates with work experience who can start to contribute to the company’s success immediately. Multitasking will be key. SMEs want to know that you can take on several roles with varying amounts of responsibility and juggle them on a daily basis.

SMEs often do not employ a traditional method of hiring. They don’t necessarily advertise open positions, preferring to recruit through word of mouth and current employee referrals. Therefore, when it comes to finding a job at an SME, you really have to take the initiative to leverage your own network of contacts. Approach the Career Center to check if any alumni-owned business is hiring, for example. Be creative and look for open doors even in the most unlikely places.

Don’t overlook SMEs as you are job hunting – after all, even Google started in a garage. Starting out in an SME can get you on the fast track to building valuable skills and networks for a rewarding and fulfilling career.