Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.They create economic value: By creating jobs, producing income, and nurturing an entire network of business partners—suppliers, shipping companies, lenders, and utility companies—social entrepreneurs contribute to the economic renewal of the region or country where they live and operate.
Spending your money there helps to stimulate the local economy and keep business booming within your local region. Helping your community is an opportunity for you to grow as a person, to better understand how you fit into the world around you.
Communities reap the benefit of entrepreneurship because businesses help to foster innovation, promote economic development, and create jobs. A successful company is likely to expand, which generates taxes, jobs, and other benefits for the area.Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.