According to research, small businesses produce two-thirds of new jobs and 43.5% of the gross domestic product in the United States. If you are interested in doing something for your community and yourself, starting a local business in the Greater Keene area could be the right opportunity for you.
3 Ways Local Businesses Impact Their Communities
Local businesses have multiple impacts on their communities. Here are a few that stand out:
1. Local Jobs
The most obvious way local businesses impact their communities is by providing jobs for residents. Local jobs help communities thrive by making it possible for residents to work without having to commute to another city and by attracting new residents.
2. Low Maintenance and Infrastructure Cost
Small businesses usually occupy existing buildings, which means towns do not need to build new buildings and roads to accommodate them. This costs the local community less money.
3. Builds Community Identity
Local businesses are among the most visible members of the community and can shape a community's identity. This has a direct impact on tourism and a community's appeal to residents.
3 Ways to Get Involved With the Greater Keene Community
Actively involving your business in the local community benefits both your business and the community. There are several ways you can get involved.
1. Provide Free Services
One way you can help your community is to provide free products or services. For example, if you run a local restaurant, you could offer free healthy cooking classes.
2. Sponsor Local Events
Most towns have sports teams, community theaters and other organizations and events that need financial support. Supporting these organizations strengthens the community, builds goodwill, and advertises your business.
3. Join the Local Chamber of Commerce
Joining your local chamber is a good opportunity to network with other local business owners. It can also help you build your reputation in the community. There are a number of other opportunities you’ll receive with your Greater Keene & Peterborough Chamber of Commerce membership, so join us today!
A public relations specialist can be instrumental in helping you integrate your new business in the community, especially if you aren’t sure how to go about doing it yourself. You can work with an agency to match you with a freelance PR professional, which is less expensive than hiring a full-time employee. Be sure to look at the profiles of several different candidates so you can narrow down a few to reach out to for interviews.
4 Steps You Must Complete to Start Your Business
You can make the process of starting a business more approachable by breaking it into a series of steps.
1. Choose a Business Structure
The business structure you choose has multiple impacts on your business. Forming your business as a limited liability company provides you with tax advantages, protects your personal assets, saves paperwork, and is more flexible than some other types of business structures. You can work with an attorney to start an LLC or save some money by using a formation service. If you decide to use a formation service, read reviews (like these ZenBusiness reviews by BestLLCServices.com) to help you find the best service option. As a bonus, Best LLC Services is currently offering a promotional code so you can form your LLC for free.
2. Research the Market
Market research is a critical part of determining whether your business idea is potentially profitable. Market research helps you determine who might be interested in purchasing your products and services and whether there are enough of those people to support your business.
3. Obtain Funding
There are a variety of ways you can fund a new business. You can use your personal savings, get a small business loan, or borrow money from friends and family. Nowadays, you can also launch a crowdfunding campaign to get your startup going. This review page from GeekFlare provides insight into the pros, cons, and pricing for the most popular crowdfunding websites.
4. Open a Business Bank Account
It is important to keep your business and personal funds separate. One of the first things you should do is open a business bank account to use for your business's expenses.
Starting a local business can be a win for you and the Greater Keene community. If you are ready to help build your community by starting a local business, following these steps will help you get started.Photo: Pixabay