Tuesday, April 24, 2018

5 Ways Small Businesses Benefit the Local Community

Small Business Week

The week of April 29th through May 5th is National Small Business week. Small businesses give back in more ways than one, and because we’re in a community built on small businesses, we’d like to highlight some ways small businesses give back to the community. 
  1. Community Identity: Take the time to walk downtown and you’ll see all the small businesses that are unique, whether it’s McHenry, Richmond or Johnsburg. From coffee shops and restaurants, to the unique and varied shops that bring you to the area, these small businesses help create our local identity and builds community.
  2. Community Involvement: Small business owners are an integral part of the community and they tend to be cognizant of how their decisions will impact their neighbors. With this in mind, local business owners are usually involved in the community. They may sponsor a local little league team, donate to a homeless shelter, join the chamber of commerce, participate in community charity events, or donate to local non-profit organization. McHenry Savings Bank has a long-standing history of supporting many organization that serve the community.

    Small Business Week McHenry
  3. Community Health: Local business owners are more likely to build personal relationships with their customers. Many small business owners form casual relationships with one another, and can create groups such as a merchant’s associated or one-on-one counseling or mentoring relationships. These relationships leverage the expertise of the participants to contribute to the business community’s long-term success. Networking is a real thing. If one business doesn’t have what you’re looking for, they may know someone who does.
  4. Local Jobs: Small businesses create jobs and most of them are local. Rather than having employees commute from another city, they have the benefit of working closer to home. Having these small local businesses also help keep everything local. For example, employees from one small business can go grab lunch at another small shop, and vice versa. This keeps money local and further creates a tight-knit community with stronger economic growth. Instead of the profits going to CEOs in a different state, your money goes towards paying for the neighbor kid’s sports equipment or dance lessons.

    McHenry Small Business Week
  5. Entrepreneurship: Entrepreneurship fuels America’s economic innovation and prosperity, and shows that the business owner is taking control of his or her future. This inspires others who have the same dream of opening a small business.
McHenry Savings Bank is committed to our customers and our community, which is why we’re here to help you with all of your personal and commercial banking needs. Visit our website to learn more about the services we offer at each of our community branches.