It’s highly likely that the reason people start a business is to provide for themselves. However, some businesses also aim to boost the local community through small initiatives. At the same time, there are also business owners who don’t have an idea how much of an impact they have on the community.
If you have a small business and you want to give back to your local community, there are many ways you can do this.
1. Give employment opportunities to locals
This is one of the most significant contributions small businesses give to their communities. By setting up a business, you provide the people in your area with a chance for employment. It’s a beautiful case of friends helping friends.
Create special employment programs for students during summer break. Encourage the out-of-school youth to work in your small business so that they can earn. If you can employ even senior citizens to do small jobs, do so. It will make them happy to be busy and like they are still needed.
According to the U.S. Small Business Administration, 8.4 million jobs were created by small businesses from 2000 to 2017. It is twice the number of jobs large corporations made.
Other than this reason, small businesses actually play a huge role in boosting the economic health of a community. There is something called the multiplier effect. When a person from your community buys from your local business, the money stays in circulation within your community. In turn, it helps the regional development.
2. Support other local businesses in your area
Related to the concept of the multiplier effect, you have great reason to support other small businesses in the area. If you own a coffee shop, get your supplies from another local business. If you need your walls repainted or you want a mural, commission a local artist. If you are developing a property, you can employ the help of a local facility management company to oversee the whole process.
This kind of mutual relationship and support among local businesses creates a vibrant and healthy community. At the same time, as all these transactions take place, the whole community benefits in the form of taxes. For so long as your business exists, you will pay taxes. The money eventually goes back to the community. Taxes fix roads, build schools, and create green spaces.
The number of successful and thriving businesses will eventually encourage other members of the community to follow suit. Give it some time, and you will see that more local businesses spring up. It will be totally helpful if your town has business regulations that will encourage others to have their own businesses, too. If not, then maybe the rise of small businesses will encourage the town to come up with such regulations.
3. Go green
By adopting sustainable practices, not only do you help your local community, but you also make slight changes the whole world will benefit from. Think about this, if everything you need is within walkable distance inside the community, you actually help reduce people’s carbon footprint.
There is no more need for people to drive out of town to get coffee or dine in a cozy restaurant. They can actually just walk or bike. As a result, traffic congestion is lessened, and the streets become safer.
There are more ways you can practice sustainability in your business. Invest in eco-friendly packaging. Make promos and events that will encourage customers to reduce, reuse, and recycle. Also, make sure your materials and raw ingredients are sourced sustainably.
4. Support community initiatives
Another solid way to show support to the community is by participating in community-based events and initiatives. If there is a donation drive towards a particular cause, donate what you can. Encourage your employees to join if there are community-based events like cleanup drives. If your town has a local sports team, you can help by sponsoring them financially or providing some of their needs.
If there are projects that need funding, join by dedicating a percentage of your profit to that cause. The people in your locality will certainly love and appreciate these kinds of initiatives. Even within your business, instead of holding an internal anniversary event, extend it to the community. Offer workshops that will teach members of your community a thing or two about your industry.
You may have started your own business not thinking that it actually has a significant impact on the community. Now that you know about all the benefits, you have more reasons to keep going.
