When thinking of starting a business, the location of your company is one of the most important considerations you’ll have to take into account because that is ultimately where your immediate market will be. Furthermore, in terms of gaining exposure quickly, your location needs to be conveniently situated in a place that you’re ideally familiar with so that you don’t have to pay as much attention to marketing as you normally would in the beginning stages while your business is still finding its feet.
From Afikagora, here is why choosing a location that is situated within your community is your best bet at growing without all the stress and hassle associated with starting somewhere completely new.
How your business can benefit the immediate community
Creating a business within the community means you become more familiar than most regarding what matters to the community members. Perhaps you’re aware of a job shortage, or a need for innovation, for instance. You can then use your business as a platform to address certain needs to benefit the community as a whole. Here are some more ways your business can be of benefit to the community that you might not have been aware of before:
Uplifting of the community economically
Businesses that are integrated into the community often make use of resources locally instead of outsourcing these requirements beyond their borders. So, when local businesses decide to pay for services from friends, family, or neighbors, this helps to stimulate the economy within that same community.
It’s better for the environment
Establishing a business in your local community means there’s less likelihood of you having to start a business from scratch and you won’t have to source materials and inventory from further away means. This means that there’s less of an impact on your carbon footprint which benefits the environment.
How to make your presence known within the community
Of course, building a business in your community means you have to be more present and involved with the people in your town right from the get-go. There are many ways to make your presence felt in the community so that people feel more welcome and open to approaching your business.
Get involved in local events
If you want to increase the brand exposure of your newly established business in your town, then getting out there and involved in local events is one way to do so. Moreover, it’s more about getting acquainted with the faces you’re likely to do business with and building relationships with the people within your town so that they get to know about what you’re offering, what your business stands for, and what value it can offer to them too.
Take part in volunteer programs
By taking part in volunteer programs, you are showing that you are willing to step in by doing your bit for the community too. Furthermore, by participating in charity events that matter to the community, your actions are in a sense speaking louder than words because you are not just saying that you care but are showing it through acts of kindness and the sacrifice of your valuable time for a worthy cause.
Speaking of charitable causes, you could find ways to support the local church to further assist them with their outreach projects. Connecting with the church could also be a means of getting to know the people within your town on a more personal level, which is a great way of building friendships in any event.
Getting your business off the ground
Of course, you’ll need to cover a few preliminary details when building your business from the ground up. Such details will need to include applying for an Employee Identification Number (EIN), deciding on a name for your business, drawing up a business plan in the beginning stages, and deciding on the type of business you want to file.
Speaking of which, an LLC is a great option for new business owners as a result of its many benefits that include tax advantages, increased flexibility, and its limited liability which places less of an onerous burden on your personal assets should you find yourself in a spot of trouble. You can choose to save yourself some money by filing your LLC yourself, or you could make use of a formation service if you want to skip the job altogether. A formation service will also keep you informed of any changes regarding filing requirements as far as registering your business goes.
Once your business has been established legally, it’s time to consider what you’ll need day-to-day to operate. You certainly can’t forget to implement accounting software. Accounting software will help you maintain an accurate record of your business, as well as provide you with insights into where your business is doing well and where it could improve. Best of all, your software can grow with your business — you can add functionality and users as your business needs evolve.
In summary, starting a business in your community means you’ll have added benefits and advantages that you might not normally have if you were to start your business elsewhere. So, if you can, and you have it in your heart to make a difference in your community, then deciding to build here over anywhere else could certainly be the start to something amazing for your business and your town.
Image via Pexels
Joyce Wilson
A retired teacher who believes she can help save the Great Outdoors while also helping local economies recover
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