Looking at the long history of economic development of leading countries in the world, in the beginning, small and medium enterprises were always the driving force of the economy Small and medium ente. Looking at the long history of economic development of leading countries in the world, in the beginning, small and medium enterprises were always the driving force of the economy. Small and medium enterprises play a considerable role in a developing economy with strong and stable growth like Australia. There are 2.1 million small enterprises in Australia, accounting for 97% of all firms registered in the country. Every 100 seconds, a new small firm is founded, according to Pickering(2022). Together, these enterprises form a wide distribution and competition network and are vital links for big businesses. This study will focus on studying the concept and characteristics of small businesses. From those theoretical bases to give The importance of small business to big business in the current economic integration era. A small business is privately owned and has fewer employees and less annual revenue than a corporation or a regularsized company. The concept of small eligibility for government assistance and favorable tax treatment varies by country and industry. A small firm employs fewer than 20 people, according to the Australian Bureau of Statistics (ABS). Small business categories include: • Nonemploying businesses (sole proprietorships partnerships without employees) • Microbusinesses (businesses employing between 1 and 4 people, including non‑employing businesses) • Other small businesses (businesses that employ between 5 and 19 employees) Small enterprises are more likely to have independent ownership and operation. Small business owners or managers typically have tight control of operations, make significant decisions, and contribute most of the operational capital. Since small businesses comprise a large portion of all firms in a country, region, and worldwide, they employ more than 50% of the total number of social workers today and create a large number of jobs, up to 65% for workers globally(Ahlstrom, 2015). Small businesses often take advantage of local workers, solving many human resource problems. However, small businesses have limited capital and often do not access significant capital sources from investment banks. This causes limitations in equipment innovation and job development promotion for these enterprises. They also have stiff competition from large corporations that provide the same services. As a result, small businesses often face a loss in market domination, especially in foreign regions. A strategic business partnership is a link between two or more businesses frequently established through clear formal business contracts and works towards a common corporate goal. In general, small firms can represent a significant opportunity for large companies in four ways: Firstly, small businesses provide additional services to customers. Small businesses can provide solutions for specific needs or competitive cases that big firms do not yet offer. For example, under the MTIE, small businesses can use 505 Samsung Electronics technology patents without paying royalties, including 213 mobile phone patents and 68 semiconductor technology(Choi et al., 2018). This helps Samsung not need to expand the business scale but still ensure its supply chain. Furthermore, small enterprises usually profit from fewer legal regulations. While all businesses must respect the law, several limitations apply differently based on the size of a firm, including additional requirements for larger companies compared to smaller businesses. This is especially true in human resources, where specific obligations apply when a firm grows to more than 20, 50, or 500 employees. Secondly, small businesses distribute services to a diverse customer base. According to Howard estimates from 2018, small enterprises employed roughly 97 percent while Medium and Large businesses only accounted for 2.6 percent of Australian workers. As a result, it is not unexpected that small enterprises account for a major share of the total market address or significant growth potential of many enormous corporations. Small firms can better understand their consumers needs because they often work closely within their local communities. Each small firm in various sectors will have adequate preparation and solutions to target that specialized market, enhancing business efficiency.
Looking at the long history of economic development of leading countries in the world, in the beginning, small and medium enterprises were always the driving force of the economy Small and medium enterprises play a considerable role in a developing economy with strong and stable growth like Australia There are 2.1 million small enterprises in Australia, accounting for 97% of all firms registered in the country Every 100 seconds, a new small firm is founded, according to Pickering(2022) Together, these enterprises form a wide distribution and competition network and are vital links for big businesses This study will focus on studying the concept and characteristics of small businesses From those theoretical bases to give The importance of small business to big business in the current economic integration era A small business is privately owned and has fewer employees and less annual revenue than a corporation or a regular-sized company The concept of "small" eligibility for government assistance and favorable tax treatment varies by country and industry A small firm employs fewer than 20 people, according to the Australian Bureau of Statistics (ABS) Small business categories include: Non-employing businesses (sole proprietorships/ partnerships without employees) Micro-businesses (businesses employing between and people, including non-employing businesses) Other small businesses (businesses that employ between and 19 employees) Small enterprises are more likely to have independent ownership and operation Small business owners or managers typically have tight control of operations, make significant decisions, and contribute most of the operational capital Since small businesses comprise a large portion of all firms in a country, region, and worldwide, they employ more than 50% of the total number of social workers today and create a large number of jobs, up to 65% for workers globally(Ahlstrom, 2015) Small businesses often take advantage of local workers, solving many human resource problems However, small businesses have limited capital and often not access significant capital sources from investment banks This causes limitations in equipment innovation and job development promotion for these enterprises They also have stiff competition from large corporations that provide the same services As a result, small businesses often face a loss in market domination, especially in foreign regions A strategic business partnership is a link between two or more businesses frequently established through clear formal business contracts and works towards a common corporate goal In general, small firms can represent a significant opportunity for large companies in four ways: Firstly, small businesses provide additional services to customers. Small businesses can provide solutions for specific needs or competitive cases that big firms not yet offer For example, under the MTIE, small businesses can use 505 Samsung Electronics technology patents without paying royalties, including 213 mobile phone patents and 68 semiconductor technology(Choi et al., 2018) This helps Samsung not need to expand the business scale but still ensure its supply chain Furthermore, small enterprises usually profit from fewer legal regulations While all businesses must respect the law, several limitations apply differently based on the size of a firm, including additional requirements for larger companies compared to smaller businesses This is especially true in human resources, where specific obligations apply when a firm grows to more than 20, 50, or 500 employees Secondly, small businesses distribute services to a diverse customer base. According to Howard estimates from 2018, small enterprises employed roughly 97 percent while Medium and Large businesses only accounted for 2.6 percent of Australian workers As a result, it is not unexpected that small enterprises account for a major share of the total market address or significant growth potential of many enormous corporations Small firms can better understand their consumers' needs because they often work closely within their local communities Each small firm in various sectors will have adequate preparation and solutions to target that specialized market, enhancing business efficiency Thirdly, Small businesses provide numerous competitive advantages The widely scattered small businesses supply massive product information while creating a distribution map of volume and preference, which big firms can use to identify developing trends and demands for future commercial campaigns (Pawlak, 2020) Large corporations frequently monitor small business trends to discover what is going successfully in the market in realtime They then consolidate and utilize that data to make faster judgments than their competitors It is built on information systems that are picked through calculation, especially in this period of the modern technology boom The benefit of automating work processes based on management science, organizational science, and information technology increases the organization's practical benefits in all activities Big businesses are more likely to succeed with assisted information, which contributes to understanding tastes and markets, orienting for new goods, and improving the organization and its production and business activities Lastly, small businesses can join forces with large companies by combining their services and delivering unique customer value as strategic business partners (Mitchell & Barbara Watstein, 2007) Because each little business will have a method to promote its image and supply services, the parent company will benefit from a broad ecosystem Small businesses provide a more personalized experience to their current and prospective clients This is critical since consumers are increasingly seeking personalized products and services Also, their size allows smaller businesses to experiment with new technologies, processes, systems, and marketing methods much faster than large enterprises This is a win-win relationship where a small business can source quality inputs at competitive prices At the same time, large enterprises can reduce much capital to expand branch networks and personnel Small businesses are a part of businesses that make up a large proportion of the country's overall economy and around the world When large enterprises form alliances with small businesses as strategic partners, they develop a particular area together They can advertise and market jointly to create a product brand Through the research process, it can be affirmed that small businesses play an integral part in the success of big businesses by being business partners, providing numerous competitive advantages, and distributing additional services to a diverse customer base A good business relationship is determined by mutual understanding and support in all circumstances Although there are differences between the two sides in business size, operation method, and job characteristics, all need to be based on the criteria of understanding and support for mutual development REFERENCES Ahlstrom, D (2015) From the Editors: Publishing in the Journal of World Business Journal Of World Business, 50(2), 24-25 https://doi.org/10.1016/j.jwb.2014.12.003 Choi, S., Kim, S., Oh, J., & Yoon, C (2018) Luminescent Materials for Wide Color Gamut Displays Ceramist, 21(1), 55-63 https://doi.org/10.31613/ceramist.2018.21.1.05 Howard, C (2018) The politics of numbers: explaining recent challenges at the Australian Bureau of Statistics Australian Journal Of Political Science, 54(1), 65-81 https://doi.org/10.1080/10361146.2018.1531110 Mitchell, E., & Barbara Watstein, S (2007) Delivering not just value … but added value Reference Services Review, 35(3), 337-339 https://doi.org/10.1108/00907320710774210 Pawlak, A (2020) Whose education is it? Social consequences of commercial advertising campaigns Problemy Opiekuńczo-Wychowawcze, 592(7), 6-7 https://doi.org/10.5604/01.3001.0014.3570 Pickering, C (2022) Small Business in Australia: The Lowdown Indeed blog Retrieved 11 August 2022, https://blog.au.indeed.com/2018/01/31/small-business-in-australia-thelowdown/ from ... to be based on the criteria of understanding and support for mutual development REFERENCES Ahlstrom, D (2015) From the Editors: Publishing in the Journal of World Business Journal Of World Business, ... proportion of the country''s overall economy and around the world When large enterprises form alliances with small businesses as strategic partners, they develop a particular area together They can... market jointly to create a product brand Through the research process, it can be affirmed that small businesses play an integral part in the success of big businesses by being business partners,