Reasons why small businesses are so important for our society

Reasons why small businesses are so important for our society

Amazon is a paradise! You can just scroll through all the offers and eCommerce trends for 2021 has made it easy to buy whatever you like with some simple clicks. It´s perfect because you can buy anything at any time on one platform.

But why are people talking more and more about the importance of small businesses? Is there a problem for the economy and society when we only have monopoles?

Let´s find out why small businesses are so important for our society as an opponent to the big companies.

New opportunities for entrepreneurs

Big companies don´t offer much freedom for new opportunities. For entrepreneurs starting their own new business, they create new opportunities to reach their goals and dreams.

Create meaningful and satisfying jobs

Statistics show that people who work in small businesses feel the importance and meaning in their job, compared to staff working in huge companies producing millions of products. Working in a small company people feel more connected and important in their role. Job satisfaction is way higher in a small business than in a big company because the people have a more intense connection with each other, the work, and their goals.

They foster the local economy

Small businesses foster the local economy. But how? With a new shop, the neighborhood attracts more people and levels up the community. More tourists and visitors come to the area and the community itself gets more connected through a common business.

Supporting the ones who are close

A small business has a big impact on its surrounding. People who are close, can get jobs, or benefit from the service or products the company offers. 

Small businesses focus on their local area. They are not interested to export to many other countries. They are interested to sell directly in the community and area. With that, they support the ones who are close.

Community Identity

Small businesses give their community identity. They have a big impact on how the community shaped and identifies itself. A special cake shop for example gives the neighborhood a totally different character and identification.

Stabilizing the economy

Big companies are a risk factor that can cause the economy to be unstable. Small businesses without risky investments and deals are a fundament for the stability of the economy. Because most small companies are locally based they don’t get part of global uncertainty.

Environmental benefits

A small business has much more environmental benefits compared to a monopole multimillion company. Small businesses usually don´t have much infrastructure because they focus on local sales. Their interest to work ecological is high because profit is not their only interest. 

People do not have to go far to buy their desired product. They can easily go to the small company in their own neighborhood.

Innovations

A small business has immense power in developing an innovation. Their knowledge and perfection can help society to develop a product that innovates the community.

Diversity

Last but not least, an aspect that is very important is diversity. Having only big companies takes us away from that. Having more and more small local businesses we can increase the diversity which is in the first place important for the stability of the economy but also for the interest of the society.

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