In recent years, a movement has started. It is a movement that have shifted consumers away from large, impersonal corporations and introduced them to people doing business in their own cities. Aside from generating new jobs, small businesses are also a valuable asset to the local community. Here are 5 ways that small businesses make a profound impact to your community:
Small business owners are an integral part of the communities in which they live and work. So, they tend to be more conscious of how their decisions may impact their neighbors. In addition, local small business entrepreneurs tend to be involved in the community. For example, they may participate in community charity events and contribute to local non-profit organisations.
Small business owners help to build a sense of community. Their businesses tend to be people businesses. Small business owners are more likely to build personal relationships with their customers, knowing many of them by name.
Many small business owners band together, forming casual or formal relationships, such as a Meetup groups or one-on-one counseling and mentoring relationships. These relationships leverage the expertise of the participants to contribute to the larger business community’s long-term success. They are also often a key tool for engendering goodwill between business owners, so that as foot traffic to one business increases, other nearby businesses benefit through increased exposure and word-of-mouth referrals.
Better customer service
If you’ve ever dealt with a large corporation, you know getting help can be a nightmare. You’ll call a hotline number, only to be transferred several times and put on hold. Even when you speak to a customer service representative, that person is so far removed from the decision-making process, there’s little concern that the company will lose you as a customer.
When you deal with small businesses, the business owner is usually directly connected to every employee in the store. That leads to a personal approach that often means any problem you have is taken seriously.
Small businesses are the product of the business owner’s entrepreneurial spirit. By starting a small business, the business owner is taking charge of his or her future. Entrepreneurship fuels economic innovation and prosperity and serves as a key means for families to move out of low-wage jobs and into the middle class.
In a bid to further invest in local job creation, some communities have gone so far as to create a small business development centre that teaches entrepreneurial skills to the local populace. The goal with all of these initiatives is to inspire entrepreneurship and encourage continued small business development in the local community.
Innovation and Competition
Small businesses, like any business, need to stand out from the crowd in order to survive. They must serve a legitimate need in the community and do it better than their competitors. Having multiple small businesses all striving to be unique, innovative, and better can result in a healthier marketplace and better served consumers.
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