Why we should never refer to a business as 'small' - Pavlo Phitidis

Entrepreneur Pavlo Phitidis is often referred to as the 'small business guru'.

But this week on The Money Show, the CEO of Aurik Business Accelerator argues for a ban on the word 'small' when it comes to entrepreneurial ventures.

He has never met anyone who is happily running or intending to start a 'small business' says Phitidis.

It's a phrase that gets used conveniently by large organisations that need to understand their business clients, he elaborates.

And this will likely affect the way you get treated.

"For example, if you're a bank or a telco or a big insurer and you serve business clients, the way that you serve a large corporate listed entity is clearly different to the way that you serve a far smaller business." 

Pavlo Phitidis, CEO - Aurik Business Accelerator

This is reflected across government policy both in South Africa and internationally as well, Phitidis says.

Different policies are formulated with the intention of facilitating the progress of business based on size, capability or potential.

This sees local businesses attached to the title Small, Medium and Micro. Enterprises (SMMEs), Phitidis points out, in what is a completely acceptable marketing lexicon.

However, it does not sit well with him.

"I find it terribly patronising when I relate back to all the individuals that I meet who are growing businesses and not building, intentionally, small businesses."

"Growth has to be on the agenda 24/7. If you're not growing, you're dying."

Pavlo Phitidis, CEO - Aurik Business Accelerator

Phitidis explores the impact of the 'small business' label and all its hidden and not so hidden ramifications. Take a listen in the interview audio above.