Small Ways Community Involvement Creates BIG Boosts in Small Businesses
Just because a business is “small” doesn’t mean that it cannot have a huge impact on the local community. Getting creative about the ways your business engages with the local economy can be a big boost to your small business and benefits the community in multiple areas as well.
How Small Business Impacts The Community
There are many positive ways that a small business adds significant value to its community:
- Economy – The revenue that is generated by a small business is poured back into the local economy in the form of taxes. The income generated by those taxes is returned to the community to reinvest. The investments are used to support important civic projects like building roads, funding schools, supplying community services such as fire departments, and funding the police force. Small Business is a critical part of the local economy.
- Jobs – Small businesses create more than half of all jobs available in a community. The money earned by those working in small businesses is again returned to the local economy as those workers spend their earnings in the community’s business market.
- Competition – The more small businesses there are in a community, the better the competition for those businesses. Competition is good for both small businesses and the community. It creates a more robust market and gives the community a better variety of products and services.
- Growth – A thriving local market attracts new large and small businesses into the community, which increases the local tax base.
- Investment – Small businesses invest in their communities in many interesting ways including:
- Real estate
- Socio-economic development
- Jobs
- Education and training
- Sponsorships
Get Involved
The immense value in small business community involvement is obvious, so let’s look at ways in which you can get involved.
- Donations and Contributions – The imagination is the only limit to the things that can be donated to your local community. Small businesses can sponsor civic organizations such as little league teams and make contributions of time, products, and services to any number of local groups such as the Girl Scouts or the Senior Citizens Center.
- Scholarships – Many small businesses establish scholarships to local community colleges, particularly those that serve their industry.
- Volunteerism – Volunteering in your community is an incredible way to get involved. It’s a win-win situation for your business, your employees, and the community at large. A small business could volunteer the time of its employees or the use of its space for events or services. You can garner brand awareness and familiarity when volunteering in the community.
- Community Events – A small business can participate in an existing community event, or host its own. Being part of a local event allows you to serve your community while generating sales, forming relationships, and increasing your brand awareness.
- Partnerships – Teaming up with other small business owners in your community can garner many rewards for everyone involved. Your combined efforts can give your respective customers new and better options, while you and your business partner increase sales and generate new leads.
- Leadership – Participating in community leadership is not only beneficial to the community, but it can provide a huge boost to your business. Your involvement can establish you and your business as a voice of the community and make you a valued community leader.
Build Relationships
The best way for a small business to get more involved with its community is by serving on a community leadership board. There are many different types of leadership boards including social, health, educational, and economic. Choosing a board to participate in could depend on your business or personal interests. Some typical types of local leadership boards you may consider are:
- Chamber of Commerce
- Small Business Association
- Better Business Bureau
- Downtown Business Council
- Council of the Arts
- Board of Education
Active involvement in your community as a small business is not only a good business decision, it’s also the right thing to do. Contributing to your community’s economic growth and stability builds the value of your business as well. Adding community involvement to your marketing strategy is an investment in time, energy, and money, but the rewards to your business and your community are immeasurable.
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