Small businesses help to generate more jobs and the SBA (Small Business Administration) states that they also employ over 50% of the United States working class. They are also very valuable to local communities. Below is a list of 8 ways in which small businesses are making a sizeable impact locally, and all of these things are demonstrated by the numerous small businesses in Hampshire – read about them at Find Your Fleet:
#1 Community Identity
When you walk down Main Street you will more than likely start noticing that the community that you live in has a unique charm and character. From the local CPA, mom-and-pop shop, coffee shop, dog grooming shop, to a yoga studio, an antique emporium, and more, small businesses influence and contribute to the identity of a community. Many of the tourism boards and municipalities have focused on preserving and maintaining the unique characters that these vibrant communities with small businesses are able to create, where they have transformed these characters into a definitive advantage. This is why at ShopKeep, we are passionate about taking back the Main Street and providing business owners with the tools they need to thrive in the current economy.
#2 Community Involvement
The owners of small businesses form a vital part of the community that they work in and live in. For this reason, they usually recognise that the decisions they make impact on their neighbours. Small business owners and entrepreneurs are also involved in their communities. For example, they might donate to a homeless shelter in the city, sponsor a local Little League team, participate in local charity events, join up with a chamber of commerce, or even contribute to a non-profit local organisation. Some of these business owners go as far as lecturing as a guest at local technical institutes, community colleges or small business centres.
#3 The Environmental Benefits
The town centres that are pedestrian-friendly also have a unique vibe, along with evident environmental benefits. For instance, the small businesses that are situated close to residential areas might lower traffic congestion and automobile use, which results in improved air quality along with lowered urban sprawl.
#4 Local Jobs
Small businesses are also local job creators and many of these jobs happen to be locally based. Instead of the need to commute to other cities, employees are able to work much closer to their homes. Supporting the local businesses in your area also helps the community members in your area that work for them. When communities have vibrant commercial centres, it also helps with creating a lot more opportunities for the workers to start shopping at the other small businesses in the area. They may eat dinner or lunch at a local restaurant, run an errand when they take their break or grab a few drinks from a local bar. This helps to keep the money local along with further developing tight-knit communities.
Small businesses is the product of the entrepreneurial spirit of the business owner. By starting up a business, the owner has taken charge of her/his future. Entrepreneurship is what fuels economic prosperity and innovation in America, and offers the primary method for many families to progress from a low-wage income to the “middle class”.
#6 Competition and Innovation
A small business has to stand apart from the competition so that they can survive. They also need to serve a need that is legitimate to their community and also do this better than their competitors. Having several small businesses that all aim to be innovative, unique and better often results in well-served customers and a balanced marketplace.
#7 Low Maintenance and Less Infrastructure
In comparison to chain stores and shopping malls, local businesses usually need less infrastructure and public services. While a new store owner of a music store might need an occupancy permit and business license, the overall process involved to open the store is far less demanding for city planning departments compared to having to build another department store.
#8 Diverse Locally Made Services and Products
Locally made and one-of-a-kind products often attract consumers to the community. This bolsters tourism and adds to the vibe in the local area. The goods that are locally made are also appealing to the residents that are focused on lowering their carbon footprint, supporting a local business, and keeping their overall tax dollars a lot closer to home.