Here are 5 reasons why it’s important to support microbusinesses and invest in microenterprise.
1. Keeping Money in the Local Economy
Compared to big conglomerates and chain stores, locally owned businesses recycle a larger share of their profits back into the local economy. This enriches the entire community.
2. Jobs, Jobs and More Jobs
Locally owned businesses create a higher percentage of jobs, stimulate the economy, and can attract outside workers stimulating the growth of the local populace.
3. A Healthy Community
Locally owned businesses create thriving town centers, a net of relationship connections, and a shared focus on causes that matter to the community.
Entrepreneurship drives economic prosperity and innovation. It is the key factor for individuals and families to move out of poverty and into contributing members of their communities.
4. Local Decision-Making
A high percentage of local ownership ensures that important decisions that impact the people who live in the community are made by people who will be directly affected by those decisions.
5. Public Costs and Benefits
Local town centers and stores require less infrastructure and make more efficient use of public services when compared to chain stores and big business.