Some of the advantages of having a small family are: More privacy, more attention from the parents, less financial troubles, more stuff, less need to share...
If you are speaking about young children,one advantage if you like to help others they are dependant, and if you are asking about a family small in size ie 1 child or 2 children, the advantages to me is not very many, since I enjoy the company of a large family, but one advantage would be a lot cheaper to raise a small family......the best to you