I had a small wedding - just us, our parents, siblings, and a best man (and partner) and a bridesmaid (who is my best friend and her partner). It was delightful. My partner has a huge family of cousins and loads of relatives and the thought of all those people there was too much to bear. I think it total there were 18 people (including us).
I have never regretted keeping it small for one moment! People couldn't be annoyed at us for keeping it so small either, it was our choice to have immediate family only (plus best man/bridesmaid and partners). We got married in a small castle(!) and had our reception in the holiday cottage we were staying in for our honeymoon, fancy party food from M&S, flowers grown by my mum and me, and my mum made my dress. Total cost of the day and honeymoon cottage came to under £5k.