Actually there's something in duct tape that helps promote healing and disinfects the wound, I've even seen certain bandaid brands where they make them out of duct tape instead of the typical tan plastic tape or cloth.
Another good addition to any small first aid kit is superglue, it bonds to skin almost instantly and if ya ever got your fingers glued together you know just how well it holds, this stuff is great if you get a cut bad enough for stitches since it'll hold the wound shut until you can get to the emergency room, then they usually have the stuff to get the glue off since they do get their number of visits due to people accidentally supergluing their fingers together etc.
I do have a pretty well stocked first aid kit at my shop, but those items are also always availible in the shop as well.
For a small kit you can carry with you on a bike, one of those mini rolls of duct tape, a small unopened tube of superglue, gauze pads, and some ointment that contains benzocaine (the benzocaine helps numb road rash) an well as some steri strips and a small pouch with about 10 Q tips would be nice and compact but well enough equipped to get ya fixed up ntil you can get some real treatment.