Disruption Isn't Necessary for Impact, 97% of Small Businesses in Canada Say

These days, "disrupt" is a hot word in the startup space. Is your company disrupting its industry? If not, your idea isn't big enough.

Or so people say. But what do the majority of small businesses believe? Apparently, something much different.

An incredible 97% of Canada's small businesses believe that disruption isn't a necessary component to making a substantial impact on an industry or in a market. More evolutionary—as opposed to revolutionary—innovation is the key to success.

"Clearly, they believe very strongly in the value of innovation, but only when it makes sense for their business," said Pamela Bailey, experience design manager at Intuit Canada. "Small business owners innovate to sustain their business. Their main goals when making innovative changes were to be more efficient and to drive growth."

According to a nationwide survey commissioned by QuickBooks maker Intuit, 98% of Canada's small businesses believe the more subtle approach of improving things (technology, operations, customer relations) positively affects their business—and with a considerably lighter burden of risk than full-on disruption as well. 

"There can be a perception that innovation is too costly or time consuming to implement," added Pamela. "In the survey, those who had not made any innovative changes during the past year, 33 per cent cited financial reasons and 19 per cent said time was a big challenge."

Another key finding in the study was that size impacts innovation. The sweetspot is companies starts at 6 employees—this size of business is actually more likely than sole proprietors to be growing, and 90% of them have implemented "innovative changes" versus just 53% of sole proprietors. This is believed to be because a fuller staff allows the company's leaders to focus on the big picture and innovate for impact rather than be swamped by too many day-to-day burdens.

So how does a business go about innovating successfully?

"Unless you're trying to change the rotation of the Earth, experimenting with a series of impactful, strategic changes can be extremely effective in actually saving time and making money," affirms Pamela. "In working with numerous small businesses in Canada and around the world, we've found a few recurring themes that have proven to help small business owners ignite further innovation."

The study offers a few suggestions. First, consider experimenting with a number of small changes rather than one big one—just like buying stocks, this strategy mitigates risk while providing diverse potential. Another tactic is focusing on doing the little things better. Don't try to completely overhaul your business; often a simple improvement in one area can add consumer value or deliver enhanced operational efficiency. Finally, leverage today's technology: take advantage of software like QuickBooks and cloud-based collaboration tools to minimize costs and accelerate admin processes.