Last year I asked a similar question to this, with a few qualifications Im asking again to see how the answers changed.Knowing what you know now, would you a) Be MORE inclined to invest in small local or regional business (say, companies having income under $500K/year) where you can actually sit across from the person that runs the company and give them the "beady eye" or;b) LESS inclined to make multiple small investments which would certainly increase paperwork but also provide a better return? And;c) WHERE would you go to find these small investments if you are more inclined to do so?Thanks for your valuable input!
      Answer1:Small business, if run correctly, can be more sustainable than a large corporation which has to maintain their infrastructure and locations.If I had the wherewithal, I would definitely make smaller investments across small, non-competing, small corporations as those are the ones that seem to be survivingYou can find small companies all over the country from small shops on "main street" to home based companies.
      Answer2:1) I would be more inclined to invest in a company that I can reach in under a couple hours by auto - so local/regional. Size would be critical to me. Smaller companies have weaker franchises - ask yourself the question "would anyone miss them if they disappeared over night?"2) Your own situation will determine what is best for you. I like the adage "make money through concentration, keep it through diversification."3) Talk to accountants and attorneys. Join the local ACG. Join an angel investors group.Finally, be careful how you invest; i.e. what kind of security - common, preferred, sub-debt, and what kind of controls you have if you are a minority investor.