How Starting a Business Could Serve the Greater Good of Your Community Well
By Ed Clarke / Social Health Today
When you’re part of a close-knit community, it makes everything easier, including starting a business. This is because you probably know almost everyone anyway. But over and above starting a business for profit’s sake, your entrepreneurial endeavors could also help to uplift your local community in more ways than one. So if you’re thinking of starting your own business, then starting a business in your hometown could be a great option. Today, McLean Living explains how to get started.
Support of any form is essential to creating a thriving business. However, it’s far more challenging to build up the trust and loyalty of people you’ve just met than to gain the loyalty of people you’ve known for years. This is where starting a business in your local community outweighs starting a business in a foreign location because you’ll have the support of friends, family, and acquaintances to help make your business a success from the get-go.
When you build a business close to home, you can create jobs for the locals, who would probably prefer not to have to commute to far-off destinations just to get to work and back. Over and above this, it can create a better sense of work-life balance, as employees don’t have to be stressed about commuting far or being away from their family for longer than is necessary.
If you are moving to a new location or returning to your roots, you may also be helping a real estate agent get a new client, too. Look into available homes near where you plan to open up shop. Once you’ve settled in, be sure to make friends in the neighborhood to see how you can get plugged in there and in the business scene.
Seeing small businesses crop up here, there, and everywhere could be the inspiration for school-leavers, retirees, and those who don’t know what career path they should be on to start businesses of their own. There are many local businesses in the area, so join that growing community and inspire even more local entrepreneurs.
Suppose you’ve set your heart on building a business but you don’t know where to begin seeking a support network to help you establish roots in your hometown. There are plenty of resources you might want to consult to help see you on your way, such as your local SBA (Small Business Administration) to gain funding for your new business if you need to launch immediately. Or perhaps you need to consult with our local Chamber of Commerce, where you can network with other businesses you’ve heard of in your area as well as emerging businesses that you’ve yet to know about.
Of course, the next logical step in setting up your business is actually to register it. For example, you may want to start an LLC because you may have heard of its many benefits that include greater flexibility in regard to how you run your business and how shares are distributed; there is less paperwork to fill in, more tax benefits such as the QBI (Qualified Business Income), and more.
Apart from getting straight into the nitty-gritty of creating your business, you might want to take a trip down memory lane to familiarize yourself with some of the popular businesses that make your town legendary. Furthermore, that may give you more inspiration when it comes to innovation and thinking up new business ideas to serve your town better.
Starting a local business is a great opportunity to contribute to the economy and the vibe of your community. Not only will you offer great products and services, but you will continue the small business tradition that is at the heart of this Oregon community. So create your business plan, start your LLC, and join the local entrepreneurial legacy!
McLean Living is the premier lifestyle magazine of northern Virginia. Questions? Please email firstname.lastname@example.org.