As small business week rolls to an end, we thought it needed to keep the spirit of small business alive and talk aboout how wonderful small businesses really are. Many people will agree that small businesses are the back bone of this nation. These businesses are usually founded by individuals who see a need for a service or product in their local area. They provide these services and products for their local communities to be helpful where it is needed. The money spent on these local small businesses are much more likely to be pumped back in to the local economy, compared to larger corporations. Even most large corporations like Heinz have once started out as small family run businesses. Its the american dream to have an idea and grow it into a success that helps your community and family. A dollar and a dream is truly where all small businesses stem from.
- It contributes to the local economy Small local businesses help generate new tax money for your locality. Whenever someone purchases at their local small business, usually they’ll pay a tax (depending on what your local laws are). These taxes go directly back into your local economy. Hitting too many pot holes on the way to work? Your hard tax paying money will probably be spent on fixing roads, bridges, schools and more. (Atleast it should be!)
- They help their neighbors. Many small businesses start off family run, or ran by a single operator. By using these businesses your helping these families live their lives. They literally make a living off you using their business. Don’t forget that! They pay for dinner, their mortgage, shopping and even college for their kids, all off your dime! This in turn causes the money spent in their stores to be spent back out into their communties. Its a wonderful circle of small business life!
- It causes a population growth in your community.. Since small businesses create more taxable income, this will draw more out of towers to live, Spend money, work, and raise a family in your area. Population growth adds the need for more tax money into your community to be spent!
- Ideas can be used to help your community. If a small business in your area invents a product or service that is beneficial to the environment in some way, it can positively affect your immediate area by being used in that area. Areas that have a high population of solar panel businesses utilize more green energy, which puts less stress on local power plants. Being supportive of local businesses is just as good as being green!
In New York City, small businesses make up 99% of all businesses. What is the percent in your area? Visit your local chamber of commerce website and learn more about the small businesses in your area. When in the need for a product or service, try your best to use small owned businesses so you can keep all the money in your neighborhood rather then out of town or overseas. Again this nation is built off good old fashion hard work and making an honest buck, so do your part! Leave a comment below if you have any other reasons these businesses are great for our area!