“The Better Business Bureau’s national statistics show that when you spend $100 at a local business, roughly $68 stays within the local economy, compared to a non-local business where $43 of that $100 dollars stays in the community.

Most small businesses also participate in volunteer work, charitable donations, community festivals, local sports teams, and benefits. In fact, their data shows 52% of small businesses support charitable contributions, and 90% donate to local causes.

The vibrancy of any small town can be measured by the economic health of their small businesses. These community assets generate long-term economic development that meets authentic community needs. By supplying jobs to their communities, these entrepreneurs promote economic self-sufficiency to help reduce poverty, according to the National Community Reinvestment Coalition, which supports entrepreneurial efforts in low and moderate-income areas.

Local small businesses also provide character and individuality to a community. They are a community’s unique brand. Walking along a thriving business district can create a sense of value and identity for visitors. It’s an impression of vitality and wealth, producing a positive image of the overall community."

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Deborah Kaufman. (2023, May 8).

Small Businesses—the Heart and Soul of Today’s Rural Communities. My Little Falls.

https://mylittlefalls.com/small-businesses-the-heart-and-soul-of-todays-rural-communities/​

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