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In my sector, there are lots of small companies, with frequent mergers and acquisitions, and high staff turnover. Of course, that can be a disadvantage, but on the other hand, ideas for new products tend to grow, not just from internal research and development, but through the informal contacts that staff have with people at other firms. We really couldn't create those links where we were, because we were geographically isolated, so to get close to a cluster of similar companies meant we had to move. Rents were so high that the boss decided to invest in having something built. Initially, he hired a small building firm, which went under just after they'd started the work. Apparently they'd overstretched themselves by taking on too many jobs, had serious cashflow problems, and couldn't pay their creditors, but he found another firm straightaway, who managed to meet the original deadline. |
