Little league soccer, street festivals and quaint farmers’ markets may typify the traditional small town community in today’s America, and these may not always be the signs an entrepreneur is looking for when considering a new business launch. However, small towns actually offer a plethora of benefits for the aspiring business owner. Take a look at just a few.
Advantages to Small Town Business
1. Lower Costs
Let’s face it. Real estate prices often match the size of the city, so your big-city locations will be accompanied by big-city rates. That’s not to mention the cost of living for you and your employees, nor the cost of doing business, with undoubtedly more regulations, fees, taxes and potentially higher supply costs. Think from a cost perspective and find affordable business locations in a smaller town.
2. More Incentives
Big cities often take business people for granted, simply because they’re a dime a dozen in these locales, even going so far as to make new business ventures difficult and costly. However, many small towns recognize the value of an entrepreneurial spirit and seek to attract those individuals with incentives for operating within their footprint.
3. Community Support
The community support found among small town organizations and community members is often much greater. A deep sense of collaboration, desire to support local businesses and pride in the community strengthen the likelihood of a business’s success.
4. Networking Opportunities
Everyone knows everyone in a small town, right? And while that may conjure up images of next door Mabel picking up her rotary handset every fifteen minutes to keep the town ‘updated’, the aspiring business owner can’t deny the benefits of effortless networking. Word-of-mouth promotion is a pillar of any new business and welcomed heartily by those who understand the benefits. Connecting with the decision makers and the leaders within a community comes much easier when the area has years of history and trust between families and individuals.
5. Less Competition
While you certainly have a greater pool of potential customers in a bigger city, you also must run neck-to-neck with numerous other businesses that provide the exact same service you do. Your brand can easily be overshadowed, or just simply lost in the wide swath of other look-alikes.
In a small city, you may often have the opportunity to be the first business of your type in the area, creating not only a more loyal customer base, but also the standard by which all other followers are measured.
6. Better Quality of Life
Traffic. Pollution. Crime. We know it’s not impossible to navigate the difficult hurdles of big-city life, but it’s not easy. Small town living brings a sense of belonging, greater community involvement, a slower pace and less unrest within the economy, all resulting in better quality of life.
7. Future Opportunities
Whether you seek it or not, being an entrepreneur lands you smack dab in the middle of leadership and opportunity when the city begins looking towards expansion. You’ll be on the ground floor for development, providing you the opportunity to share from your experience and make a positive difference in the direction of the community.
Building Your Business: Take Action Today
It’s true – small communities need the bolstering benefits that business brings; however, you may find that your business gets just as much back from the community.
If you’ve been holding your entrepreneurial dreams with caution, now may be the time to stop dreaming and start doing. We’d love to hear about your business goals and help you find the perfect location to launch or expand your life’s dream.
Call us today at 1-304-485-8000.