Pros
You do get experience of quite a lot of things because it's such a small team and everyone has to do a bit of everything.
Cons
Excessive workload, complete lack of understanding or sympathy for mental health issues and/or workplace stress, bullying, unexplained differences in salary for people doing the same job, horrendous blame culture. Work is unappreciated, employees are made to feel like idiots. Bank holiday/weekend working and 12 hour workdays are not uncommon, overtime is never paid, and time in lieu is rarely given.
Staff turnover is extremely high. Multiple people have left in less than a month without any warning. When people leave it is taken as a personal offence and management start telling lies about them. Every single person leaves for the same reason; they just can't take it anymore.