Small businesses are the backbone of the local economy. They account for almost two-thirds of all jobs in the United States. And even though big businesses get a lot of attention, small businesses are the real engines of job growth. They create more than half of all new jobs in this country.
But small businesses can’t thrive without a strong local community. They are the lifeblood of local economies. Here are five reasons why your business should care for the local community.
It’s good for business
When people are employed and have money to spend, they’re more likely to patronize local businesses. That’s good for the economy and good for your bottom line. This is especially important for retailers.
When people feel connected to their community, they’re more likely to shop local. In addition, people who live in close-knit communities are more likely to shop at local businesses than people who don’t feel as connected.
Consumers also part of a strong community feel more responsible for buying local products. Therefore, they need to support local businesses and eventually help them grow in the future.
It attracts and retains employees
A strong community is not only good for attracting customers, but it’s also suitable for attracting and retaining employees. People want to work for companies that are invested in the community. They want to work someplace where they feel like they’re making a difference.
When you invest in the community, you’re investing in your employees. And when you have happy, engaged employees, they’re more likely to stay with your company. They’re also more likely to be productive and do their best work.
It’s good for the environment
Sustainability is a big word right now, especially with global warming worsening every day. But only a few businesses know what it means.
The term “sustainability” has different meanings for different people, but it generally refers to the idea of living in a way that doesn’t deplete resources or damage the environment. And it’s not just about conserving energy or recycling. Instead, it’s about finding ways to operate your business that positively impacts the environment.
Your business positively impacts the environment and can increase its longevity. It also helps you save money, which is vital for any business.
It builds your brand
You’re not just doing good deeds when you give back to the community. You’re also building your brand. When people see that your company cares about the same things they do, they’re more likely to support your business. This branding can reach new heights and eventually reach other places worldwide.
It strengthens the local economy
When businesses care about the local community, it strengthens the local economy. When companies invest in the community, they’re more likely to spend their money locally, supporting other businesses and creating jobs.
When the local economy is strong, everyone benefits. Businesses have more customers, employees have more job security, and everyone has more spending power.
You might now be interested in caring for your local community for these great reasons. Here’s how you can do that.
Do CSR Initiatives
CSR, or Corporate Social Responsibility is a great way to show that your business cares about the community. It’s also a great marketing strategy that can help you attract and retain customers and employees.
If you want your business to build a strong community, consider doing some CSR initiatives such as:
- Volunteer in local events
- Supporting a local charity
- Having campaigns that will promote your business and the community
An example of a good CSR is Starbucks’ community shops. They are designed to provide employment and training for young people in the local community. Remember that communities caring for your business will bring your company a lot more revenue and manpower than anything else.
Help the Community Connect
One way to care for your local community is to help them connect. There are many ways you can do this, but the most effective is by creating an online platform. A robust online community platform can help people connect and share information effortlessly. This is especially useful for small businesses because it can help them reach a wider audience.
Such a platform can also help collect information and make it easier for businesses to connect with their target market. It can also help promote local events and companies, eventually leading to more customers and revenue.
Small businesses are the lifeblood of any community. They create jobs, support local economies, and give back to the community in many ways. There are many reasons small businesses should care for their local communities, but five of the most important ones are here.
When businesses invest in their local communities, they invest in their employees and the environment. They’re also building their brand and strengthening the local economy. Caring for your community is good for business, and it’s good for society as a whole. Caring for your local community is a great place to start if you want your small business to thrive.