{"id":112938,"date":"2021-01-30T21:14:27","date_gmt":"2021-01-31T02:14:27","guid":{"rendered":"https:\/\/digitalmainstreet.ca\/?p=112938"},"modified":"2021-01-30T21:27:49","modified_gmt":"2021-01-31T02:27:49","slug":"the-power-of-local","status":"publish","type":"post","link":"https:\/\/digitalmainstreet.ca\/fr\/the-power-of-local\/","title":{"rendered":"The Power of Local"},"content":{"rendered":"

Small businesses are the heartbeat of local communities \u2014 the lifeblood of these microeconomies. Due to the concerns over the global crisis, it is small businesses that have taken the toughest blow. We partnered with Nextdoor Canada on a three-part webinar series featuring conversations with business owners and industry experts from across the country.<\/p>\n

The first webinar is hosted by Nextdoor CEO Sarah Friar, in this 45-minute session you\u2019ll hear from local businesses and community leaders on how they have harnessed power of the neighbourhood to support and grow their businesses:<\/p>\n

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Learn tips from business owners and industry experts on how to navigate the unique challenges local businesses currently face.<\/p>\n

Access webinar<\/a><\/div>\n<\/div>\n<\/div>\n

Why is Small Business So Important?<\/h3>\n

While there are several reasons why small businesses are important to local communities, there are two reasons that specifically stand out.<\/p>\n

Increase the Economic Health of a Community<\/h4>\n

Local small businesses have a tendency to support other small local businesses. For instance, the local restaurant might need a cleaning service, a CPA, and a lawyer. Usually, small businesses stick together \u2014the local cleaning company, accountant firm, and legal office deliberately assists the local diner to keep the local economy thriving. Boosting local businesses \u2014 sometimes, these small business owners are friends or neighbours \u2014 creates strong bonds. All involved realize their money is staying local and not getting sent to pad the pockets of a corporation.<\/p>\n

Keeping the local businesses afloat also means more jobs are created \u2014 and remain \u2014 right in your town. The local employees tend to spend their money locally, too, keeping the economic cycle in firm motion. Between 2003 and 2018,\u00a0small businesses in Canada<\/a>\u00a0created over 85% of all new positions.<\/p>\n

Small business has the unique quality of sustaining a community economy, making it less reliant on the quirks of Canadian trends.<\/p>\n

Encourage Entrepreneurship, Which Keeps Small Business Alive<\/h4>\n

When the entrepreneurial-minded individuals in your community see the success of small business, they\u2019re inspired to make that leap to become small business owners themselves. It can be downright scary, of course \u2014 but starting a small business is a way to take charge of your future. Is now the right time? Perhaps it is.<\/p>\n

The lending institution in your community might have a favourable loan for small businesses, especially in this current global climate. But perhaps it\u2019s the current small business owners who do the most for small business because they show that, no matter how tough times get, it\u2019s still possible to succeed.<\/p>\n

What\u2019s Happened to Main Street?<\/h3>\n

Around the globe, the current climate of business is one in which people are home \u2014 even for work. Eating out and shopping in-store aren\u2019t favourable activities currently, posing challenges for businesses of all sizes, but especially for small businesses. Trade shows have been cancelled. Art galleries are closed. But these unique challenges have also created rare opportunities for local business to not only survive, but to thrive.<\/p>\n

Challenges<\/h4>\n

Canadian small business has been harmed greatly. Some of the challenges facing small businesses include:<\/p>\n