Small businesses are a valuable asset to the local community. According to the SBA (Small Business Administration), small businesses provide more than just new jobs and employment to millions of people in the country; just look at the shops in Fleet which provide myriad goods and services. Here are some of the ways local communities’ benefit from small businesses.
1. Contribute to a Community’s Identity
Almost every community/street has that one or two unique charms and characters in the form of a business that people identify with. This can either be the local CPA and dog grooming business, the mom-and-pop shop, the coffee shop, antique parlour and the yoga studio among others. Most tourism boards and municipalities also use (preserve) the vibrant community character that the business creates to their advantage. It is, for this reason, we at ShopKeep work hard to ensure you, the business owner, have the tools and platform needed to succeed.
2. Involvement in Community Affairs and Events
Owners of these businesses also play a big part in community events and affairs. These business owners know and understand how their decisions can affect their neighbours and the community in general. Many of these entrepreneurs will participate in local events such as sponsoring local teams, donating to homeless shelters, make contributions to local non-profit organisations, as well as participate in commerce events. Many successful entrepreneurs and business owners also do give lectures (as guests) to local technical institutes, community colleges, and small business centres as well. All these are geared towards bettering the community.
3. Environmental Benefits
Small businesses clustered within or near residential areas reduce the need to drive long distances for supplies, hence easing traffic congestion and automobile use. This thus provides convenience while reducing the community’s carbon footprint. The people around can, therefore, enjoy fresh and clean air.
4. Create Jobs Locally
Small businesses create local jobs whereby people (employees) can work closer to their homes. If locals support businesses in their communities, they then improve the chance of having a vibrant commercial centre within them. This means more business opportunities, clients and even jobs. As an added advantage, employees from these businesses will shop here, including grab lunch, snacks or drinks at local bars. This creates a tight-knit community vibe with money circulating locally.
5. Creates the Spirit of Entrepreneurship
Small businesses thrive due to the owner’s spirit of entrepreneurship. This means the business owner can take charge of their future, and even become a source of motivation for others looking to do the same. The spirit of entrepreneurship is also what drives prosperity and innovation in the country. It also serves as a means for people to come out of low-income jobs.
6. Competition and Innovation
Several small businesses in the community increase competition, a factor that drives the business owner to become more innovative in his/her way of doing business. The fact that everyone will be trying to be unique and attracting different types of customers, or the same customer, creates a healthy relationship between businesses. This also means customers get the best services and products from these businesses.
7. Reduced Need for Infrastructure and Maintenance
Starting a small business is far less demanding on the city planning department as compared to say, erect a new department store. Although the local owner may require an occupancy permit and a business licence, the chances of his/her application being approved are much higher than if one was to build a mall in the same community. Local businesses also require less infrastructure and fewer business services too.
8. A Wide Range of Locally Made Products and Services
Most people are more attracted to locally-made products than with imported ones. Local businesses help boost domestic tourism and innovation. This is particularly crucial if looking to keep tax money closer to home, support local businesses, as well as reduce carbon footprint.