What is the main success factor of the small business in a small markets?

Main success factor of small business is less manpower more work , more responsibility, and each person has its own role and authorised in their various fields,No body interfers in between and he has only right to present himself. second thing is appretation which matters a lot .

I would say the company strategy is the main success factor.

Whatever your strategy, whether it is low prices or innovative products, it will work if it is sharply defined, clearly communicated, and well understood by employees, customers, partners, and investors.