Some say small businesses are the backbone of our country. There are many ways that small businesses benefit the community; they create jobs for locals, encourage economic growth, and reduce environmental impact, to name a few. As small businesses, the struggle to compete with big brands and stand out from the crowd can seem almost impossible. But we want to see you succeed.

They are involved with the community.

In general, small businesses and their owners are more involved with their communities. Small companies are more likely to contribute to charities, especially local ones. Small Business Trends finds that 52% of small businesses donate to charity. To maintain a vibrant community, small business owners also frequently sponsor, plan, and host local events. Additionally, as mentioned above, providing job opportunities to locals is another way small businesses help the community.

They innovate and diversify the local market.

To stand out from the crowd, small businesses must be innovative and unique. They must do something different from their competition, or they risk disappearing. That’s why the most successful business owners tend to be innovative and creative entrepreneurs with unique ideas.

This not only encourages greater innovation and growth within the community but also creates a more diverse market. If your local businesses offer something unique, it increases the tourist appeal of your area, gives your community a more distinctive personality, and creates a diverse market that also creates satisfied, well-served customers.

They are better for the environment.

Additionally, your company is environmentally friendly! Who knew that small businesses could have such a positive impact on the community?

On the one hand, local businesses tend to set up shop in pre-existing buildings. Larger companies and corporations often get infrastructure built for them, resulting in less green space in the community and more harmful materials. Small businesses only take up a little space; they use the space that already exists, which is what environmental conservation is all about.

Furthermore, local products or goods from smaller manufacturers—both of which have a significantly lower environmental impact—are typically sold by small businesses.

Small businesses are in community centers where walking or bicycling is more common. This means fewer customers and employees will have to drive to access the industry.

Small business owners themselves also tend to shop locally as a way to encourage others around them to do the same. Small business owners tend to eat at local restaurants and shop at local retail stores, and they often encourage their friends and family to adopt the same attitude. The wages they earn as business owners return to the communities where they came from, fostering economic growth.

Small businesses operate on the principle of being needs-oriented, adapting to the needs of their consumer clientele, offering the market something new, acting realistically, and thinking forward. In a market economy, small businesses perform a number of important functions: economic, resource, organizational, innovative, and social. According to a number of researchers, small businesses are the functional basis for the formation of the middle class since they mitigate social tension and democratize market relations. The objective need for the development of small and medium-sized businesses is due to changes occurring in large-scale production. At the present stage, in the external environment of large-scale production, the following occurs:

• Increased competition on a global scale due to the development of transport, computer science and communications;
• A notable decline in the rates of economic growth across all developed nations, leading to a rise in the level of uncertainty in the external environment;
• Increasing tendency towards regulation of markets due to differentiation and individualization of consumer demand.

In closing, our communities’ small businesses are their vitality and heart. In ways you may not have considered, your company is making a positive impact on the community in your neighborhood.