Anthony McClure hangs up the phone, slightly amazed that he has just declined an offer to become vice president of international marketing for a Fortune 500 company. It's the second unsolicited offer he has rejected in the past two months.

Why does he turn down the companies that regularly beat a path to his door, offering money, power and perks? Very simply, the Dallas-based Mr. McClure is happy where he is - at Amadeus, a European training firm just gaining a foothold in the U.S.

As a consultant, Mr. McClure teaches executives how to reach their full potential. As he helps clients change their lives and corporate cultures, he doubts another position would be more satisfying.

Gail McDonald, a former human resources vice president, and Mina Brown, a former chief financial officer, both left large companies and founded Transition Resources, a consulting firm in Dallas. The human resources and financial consultants assist organizations with major changes, such as a merger, acquisition, or turnaround, new business phase or an initial public offering. They created their firm as a way to apply their expertise and gain greater control over their careers and personal time.

Jim Loffler recently joined RSP Manufacturing, a Fremont, Calif., firm that makes stampings for the computer industry, as manager of hard tooling. He loves being with a small, fast-growing employer that's committed to making high-quality products and providing exceptional customer service. He enthusiastically describes the inauguration ceremony for its new plant in Guadalajara, which was attended by Mexico's president, and the purchase of a plastics company and a sheet metal/stamping plant in Scotland, and notes that the company recently earned a Supplier of the Year award.

Despite having different backgrounds, these professionals share a common bond: They left big corporations for smaller, more entrepreneurial companies. The move allows them to make a greater impact on their companies, colleagues and cultures, while charting their own courses. Although their transitions weren't completely idyllic, none misses the greater prestige and resources inherent in a large organization or wishes to return to that territory. They're having too much fun.

Large-firm executives who are weighing similar career moves often hear that working for a small firm can be frustrating, arduous or financially unrewarding. But many negative comments about small companies are myths based on stereotypes or sour grapes from jealous colleagues. While these myths aren't new, laid-off professionals still smarting from corporate downsizing or merger and internal politics may be hearing them for the first time.

To help you separate fact from fiction, review the following myths about small companies, as well as the truth:

Small firms attract relatively little publicity, so their impact on the economy is discounted. For instance, in 1995, firms owned by women, which tend to be small businesses, employed more people than the Fortune 500, according to the National Association of Women Business Owners. As a group, small companies form a powerful, dynamic economic community which tremendously affects domestic and global growth.

While many firms, especially slow-growing, family-owned operations, often pay less, other small businesses offer equal or greater compensation packages than their larger counterparts. These companies are often started because of a founder's desire to earn greater income. While going it alone may be riskier than working for someone else, those who succeed in the right niche reap handsome rewards.

Start-up companies funded by venture capitalists may pay well because they need to produce immediate results for investors. Often, a young organization may bolster employees' cash compensation with generous stock options. If the corporation goes public or finds a buyer, the options can be worth millions.

Not anymore. The golden days of employment-for-life are long gone at large organizations. In fact, many small companies are founded by executives who repeatedly have been downsized or re-engineered and want more control over their careers. They trust their abilities and decisions more than those of a large employer. Employees at small, well-managed firms may feel more secure about their jobs because of a personal relationship with the owner. Small-business owners aren't pressured by stockholders' expectations for profits, and will move heaven and earth to make payrolls. At these firms, layoffs typically are used only as a last resort.

At family-owned or stagnant small companies, this may be true. However, fast-growing small businesses must continually add employees and managers to keep pace with demand for their products and services. Employees in these organizations wear many hats simultaneously, so on-the-job training, continual learning and increasing responsibility are required.

Downsizing and reorganizations at large companies have created opportunities for small firms to provide services that were once performed in-house. (How many professionals do you know who have returned to former employers as independent contractors after being laid off?)

Consider Human Resource Solutions, one of the 100 fastest growing small businesses in Dallas. This consulting firm started by Ed Rankin offers a variety of human-resource services to large and small clients who don't have such expertise in-house.

Big companies are more interested in working with smaller organizations because they often receive higher quality service for a reasonable price from seasoned experts. Many larger firms and government agencies also must meet internal affirmative action goals that require them to contract with minority or women-owned firms. This creates even more opportunities for small businesses.

Most large corporations rely on education and experience requirements to screen new hires or promote existing employees. This perpetuates the practice of putting "square pegs into square holes." But small-company managers tend to be more open to candidates with different backgrounds. While they may seek certain experience, they consider enthusiasm and aptitude when making hiring decisions. Entrepreneurs tend to trust their own instincts and are more willing to hire career changers or less educated professionals who demonstrate an ability to do the job.

Jim Loffler is impressed by the authority he has to upgrade RSP's tooling department. As the company adds plants, he's responsible for ensuring their tool-and-die design meets quality, cost and efficiency standards. It would have taken years of employment and a bigger title to make a similar impact at his previous company.

When EDS was first acquired by General Motors Corp., a frustrated Ross Perot said, "If someone at EDS sees a rattler, he kills it. If a GM manager comes across one, he puts together a committee to discuss the situation."

Small businesses tend to be more creative, nimble and aggressive in pursuing opportunities. Fewer management barriers exist, and less voices are likely to chant "If it ain't broke, don't fix it." Entrepreneurs don't have the luxury or comfort of being king of the jungle. As a motivational plaque says, "When a gazelle wakes up in the morning, he has two choices: He can either run like hell or be eaten." Small businesses have a lot in common with gazelles.

--Ms. Besson, an NBEW bimonthly columnist, is president of Career Dimensions, a Dallas-based firm specializing in career development and job-search programs for professionals and corporations, and author of "The NBEW Guide to Resume Writing" (1996, John Wiley & Sons) and "The NBEW Guide to Cover Letters" (1996, John Wiley & Sons).