Small businesses are the heart of every community. They are the places where people come to buy their groceries, get a haircut, or pick up a prescription. They are also the places where people go to work, learn new skills, and meet new friends. In short, small businesses are essential to the health and well-being of every community.
It's essential to be aware of small businesses' impact on the economy and the community. Here are ways small businesses support neighborhoods and both offline and online communities.
1. Small businesses create support in multiple ways
But small businesses don't just provide essential goods and services to their communities; they also give back in other ways. For example, many small businesses sponsor local youth sports teams or donate to local schools and charities. And, when times are tough, small businesses are often the first to step up and help out, whether it's providing food for a family in need or donating money to a local cause.
2. Small businesses create jobs
In addition to their direct support of the community, small businesses also create jobs. In fact, according to the U.S Small Business Administration, small businesses create about two-thirds of all new jobs in the US each year.
In fact, small businesses outperform large ones when it comes to job recovery after major crises. Over the past 25 years, large businesses generated 6.7 million jobs while small businesses created 12.9 million new jobs.
It's clear that every economy needs small businesses, especially if it wants to stay resilient after crises.
3. Supporting small businesses enriches the community
When small businesses in a community pay their taxes, it goes back into the community in a number of ways. For one, it helps to fund important public services like police and firefighters. Small businesses also support the local infrastructure, which helps to keep the community running smoothly.
For people who want their towns to have better parks, educational opportunities, and more, it's important to go to small businesses and spend some of their disposable income there.
Even a small effort in such directions leads to a significant boost in taxes. And an inflow of money into a community's coffers means it can be put to good use locally - ensuring better services and care for those who need it.
They develop a sense of togetherness
In addition, small businesses help to create a sense of place in a community. They are often the places where people gather to socialize and connect with others. This is especially important in small communities where there may not be as many public places for people to gather.
In larger cities, small businesses help to create a sense of neighborhood and community in an otherwise vast and anonymous place. They provide a gathering place for people who share similar interests or backgrounds.
Small business success encourages entrepreneurship
Finally, small businesses help to encourage entrepreneurship in a community. When people see their neighbors and friends succeeding with their small businesses, it inspires them to take the plunge and start their own business ventures.
This, in turn, leads to even more economic activity and job growth in the community. And it's a way to support innovation and creativity.
It's a self-perpetuating cycle that helps to keep the community vibrant and thriving.
They help build skills
Small businesses offer a lot to the youth of a country. They help young people develop new skills and provide opportunities for them to learn and grow.
Many small businesses are family-run, so they provide a way for young people to learn about the business from the ground up. This can be an invaluable experience for those who are interested in starting their own businesses one day.
In addition, working in a small business gives young people a chance to develop important work skills like responsibility, time management, and interpersonal skills.
All of these are important for success in any career, but they are especially important for entrepreneurs.
So, the next time you're thinking about where to spend your money, remember that supporting small businesses can have an impact on your life that's deeper than you realize.
No matter where they are located, small businesses play an important role in creating a sense of what's real about a place or the people who live there.
Get involved in your community and support the businesses that make it what it is. It's good for you, them, and everyone else.