3 reasons why you should set up a local business
These days, thanks to the internet, an increasing number of us are working remotely or online.
There are plenty of obvious benefits to being a “location-independent” digital entrepreneur. But, there are some downsides as well, not least of all the fact that this line of work can lead to a significant degree of social alienation.
It may seem outdated, but there are still some real benefits to setting up a local business that focuses in a particular, clearly defined area.
Here are a few reasons why it’s still worthwhile setting up a local business today.
Because the larger the working environment, the greater the competition
If you’re a “big fish in a small pond,” you might find that things become a bit frustrating, and that you aren’t able to expand your professional operations quite as easily as you would like.
But, the odds are also good that you will be pretty dominant in your industry, and well-established in your surroundings, too.
On the other hand, when your “working environment” is the entirety of the globe, competition increases exponentially, and it can be extremely difficult in many cases to eke out a living for yourself.
One of the most straightforward benefits of running a local business, is that you can focus your marketing efforts on a specific area, and likely won’t have to worry about facing the same level of competition as you would on a larger scale.
Because customers are often looking for authenticity – and that is associated with local businesses
When someone searches up a term such as Electrician in Hornsby, online, you can be sure they would probably feel a bit cheated if the electrician in question was actually travelling from several hours away in order to do the job.
These days, the world is dominated by highly sophisticated and faceless mega corporations, who seem to have their fingers in every pie. While this may be convenient, it’s also eerie and impersonal.
Increasingly, there’s been a movement developing among consumers who place authenticity above many other concerns, when making a purchase. Authenticity means dealing with someone you can relate to. Someone with a face. To a large extent, authenticity means dealing with local companies.
Because it’s a great way to give something back to your immediate community
Running a local business can be an excellent way of giving back to the community, and contributing to the maintenance of its local culture and infrastructure.
It’s well known, psychologically, that having decent social and community ties is important for people to maintain a sense of well-being. More and more, though, smaller communities are dying off, largely because of a lack of jobs, and the flight of businesses.
If you're interested in keeping your local community alive, creating a local business could be an excellent way of doing that.