Updated: Aug 31, 2020
“Support small business.” “Shop small.” “Shop local.” We’ve all heard these phrases and have a basic understanding of why we should do so, but supporting small business isn’t just about helping a business owner succeed. While that’s undoubtedly important, supporting small business also affects the community as a whole. Scroll below to find out how small businesses help communities thrive and how you can support locally-owned operations.
3 Ways Small Business Bolster the Community
Main street businesses may be small, but they are mighty. In fact, small businesses have a significant impact on any community. From establishing a unique community identity and preserving small-town culture to improving a city’s economic health, standing for small business benefits all involved.
Small Businesses Keep Jobs Local & Boost the Local Economy
The U.S. Small Business Administration revealed that “small businesses have created two out of every three net new jobs since 2014.” In addition to keeping jobs local, many business owners recognize the need to develop the workforce. Organizations like LB Homes offer on-site training programs to help individuals get hands-on experience while completing their education. Others partner with area schools to guide curriculums and provide training and resources to the current and future workforce.
Every local job that is created allows more people to live and work in the community. Those that live and work in the area also tend to shop locally, which benefits the local economy. Dan Zierden, owner of Fergus Falls Home and Hardware, believes this is a key piece of the economic puzzle. He says, “Shopping a locally-owned and operated store like ours means that virtually all the money that is made above expenses stays in our community.” Whether running errands, grabbing lunch at a nearby eatery, or enjoying happy hour at a local pub or brewery, maintaining the cash flow throughout town improves the quality of life for many and encourages them to stay in the community.
Small Businesses Encourage Entrepreneurship
A community composed of thriving small businesses can inspire others to leap into entrepreneurship. Fergus Falls has recently seen an influx of entrepreneurs and small business owners, welcoming 20 new businesses to the community last year alone. From pop-up shops like Peney Cakes to brick and mortar stores like Uncle Eddie’s Ice Cream, a city that fosters entrepreneurship encourages growth.