Very small is 3 people. It’s a small company.

My experience working in a dev company exactly that size -

Pros

Less dead wood (people not carrying their own weight).

Everyone knows everyone well, it’s a tight team

Think it, do it - quick to develop and respond

Less pressure

Feels a bit like a family

More chilled than corporate esp. working from home

More support of networking and linking up with industry peers

Higher degree of trust and support

Way more latitude to do what you want to do

Easy to influence senior leadership

Can offer things like equity etc

If you’re a high performer you will be noticed

Way less red tape

A lot more trust

Company can prosper if everyone works hard

Cons

Company favourites

Can be quite political, although far less so than some large organisations I’ve worked for

Less cover if you’re on leave or similar

Harder to get some things done if money is needed (lower budgets and thinner reserves)

Lower remuneration, fewer levers to pull to get a salary increase

More drama with paychecks etc

Fewer higher skilled people to learn from

Culture can go sideways quickly

Nowhere near the same level of support and benefits provided by the big companies

Tend not to attract the best and brightest talent

Comoany more impacted by economic conditions

It also greatly depends on you and your preferred style. Some people just outright don’t like working for big businesses and prefer smaller gigs.