By Jessica Brody
Small businesses have the potential to make a huge impact on their local communities. From increasing job opportunities and stimulating creativity to helping in circulating money within the local economy and encouraging an active community, small businesses can help improve the health and wellness of their community in many ways. Around Wellington shares some of the main ways small businesses can help improve community health and wellness.
Introduce New Job Opportunities
SMB Intelligence points out that small businesses can introduce new job opportunities into their local communities. This helps reduce the unemployment rate, as well as gives people more options for employment. It also allows for more diversity in the workplace, which means different perspectives and ideas can be brought to the table.
New Employees and Fringe Benefits That Help Everyone
As it has to do with bringing on new employees, consider investing in employee housing as one of your fringe benefits. You bring a number of perks by offering a rental to staff moving from a long distance. Other housing-related options are to offer a housing stipend or reimburse moving expenses. The good news is that the community is also positively affected, as revenue from the housing via taxes and sales proceeds feed back into the community.
Increase Tax Revenue
Instead of relying on big businesses to generate revenue, governments around the world should focus their efforts on strengthening small business communities. This can be achieved through tax initiatives such as reduced tax rates and longer tax credits for businesses with certain criteria, allowing them to reinvest their profits or expand their operations. This innovative approach will not only put more money into the community but will also increase the government’s overall tax revenue due to the vibrant growth of small businesses.
Stimulate Creativity
Small businesses often bring new ideas and products to their communities that wouldn’t otherwise exist. They stimulate creativity by providing a platform for entrepreneurs to showcase their skills and share their unique products or services with others. This helps create a vibrant culture of innovation that benefits everyone involved.
Help Circulate Money Within The Local Economy
Shopping local isn’t just a feel-good philosophy—it’s an economic powerhouse. Metro Family Magazine notes that when you support small businesses in your area, the money circulates within your community instead of being sent elsewhere. That circulation helps ensure other merchants are thriving while creating job opportunities for citizens who might not find them anywhere else. Investing in local commerce breeds success and stability right at home.
Encourage an Active Community
Small businesses often host events such as art classes or outdoor activities that help encourage an active lifestyle among members of their local community. These activities give people the opportunity to come together, make connections, and create memories that will last a lifetime.
Help Local Charities
Many small businesses choose to give back to their communities by donating time or resources to local charities or non-profit organizations that are working towards making a positive difference in people’s lives. This could be anything from creating a donation drive for those in need to volunteering at a local soup kitchen and providing meals for the homeless. By demonstrating social responsibility, small businesses can make a huge impact on the people around them.
Collect Signatures to Promote Change
Small businesses can play a vital role in encouraging change by collecting signatures for important causes. They can leverage their customer base and community influence to raise awareness and garner support. In this digital age, using a digital signing tool can streamline this process. These platforms allow businesses to create and circulate petitions electronically, making it easier for individuals to sign and share the petition from wherever they are. You may consider this option not only for its convenience but also for its potential to reach a wider audience. Plus, digital signatures are legally recognized, ensuring the legitimacy of your efforts. By mobilizing your customers and community around a cause, your small business can contribute significantly to effecting meaningful change.
Form an LLC
Forming an LLC (limited liability company) gives a business certain advantages when it comes to operating within its local community such as being able to deduct business expenses from taxes, having limited liability protection; access to capital, and increased credibility. All of these advantages can help a small business do more for its community by allowing them greater flexibility when it comes to running operations.
From corporate responsibility initiatives to strategic voluntary efforts, an LLC allows business owners to more deeply involve themselves in making positive change. All this while providing financial stability to focus on giving back rather than worrying about finances all the time.
Small businesses have immense potential when it comes to improving community health and wellness through job creation, circulating money within the local economy, and helping out with charities/non-profits organizations; plus forming an LLC (limited liability company) provides even more advantages which allows them greater flexibility when it comes to running operations. With all these benefits combined, there’s no doubt that small businesses play a vital role in creating healthy and vibrant communities.
***
Jessica Brody created Our Best Friends so others could find a place to share stories and photos of their beloved animal companions.