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5 Ways Your Local Businesses Are Your Town’s Unsung Heroes | Small Business Cash Advance

Locally-owned businesses are considered to be the lifeblood of the small towns they call home. And rightfully so. However, the positive effects that go well beyond the obvious benefits are often overlooked. Consider the following five ways local businesses are the unsung heroes of their hometowns.

  1. Help Communities to Grow and Prosper

Consider the small town hero of Rantoul IL. In 1998, Taylor Studios, a company that designs and builds exhibits for places like Marine Museum and Gettysburg Cyclorama, moved to Rantoul. In the years prior, the town had lost all momentum after the closing of the local air force base. The company president, Betty Brennan, and her staff created a Community Experience Plan, which the studio then donated; this plan offered a variety of ideas and possibilities to enhance tourism and grow the downtown business district.

According to the plan, the mission was to “seek to enhance life in our community by focusing on several strategic areas, such as strengthening our school system, growing our job market and providing more housing options, as well as focusing on putting the infrastructure in place….”

Brennan shared that it was a community effort to identify the unique character of the town. “It often takes a firm like Taylor Studios to help towns identify their resources.” Through these efforts, the town of Rantoul is now growing and thriving.

  1. Provide Necessities to Small Towns

Many residents of small towns and sparsely-populated areas are forced to drive for miles when they need to purchase goods and services. When a business brings these necessities to these residents, it is met with much appreciation. Consider the general store, Preston Trail Farms of Gunter, Texas. Before owner Rick Kimbrell brought his business to Gunter, the nearest hardware store was 18 miles away. The general store offers the small town fresh local foods, hardware, livestock and horse feed, gardening supplies and gifts – all in one location. The store also has a café, a popular pumpkin patch and a petting farm.

According to Kimbrell, “We wanted to provide for the general needs of the folks who live around us.”

  1. Improved Quality of Town Life

Researchers at Baylor University and Louisiana State University have shared that people who live in areas with a higher number of locally-owned businesses are wealthier, healthier and safer. These areas were compared with counties that had larger companies owned by non-locals; these areas’ residents experienced higher rates of obesity and diabetes. Why is this? It would seem that small companies are more inclined to invest in, to support and to promote community healthcare programs and health infrastructure bond issues.

  1. Increased Prosperity

According to studies, locally-owned, independent businesses recirculate more money than chains and franchises do. The benefits that businesses have on the prosperity of communities include: direct, indirect and induced impacts. When a company has a direct impact on a community, the business spends money within the local economy through the operation of its business; that is, employee wages, equipment, inventory, etc. An indirect impact occurs when money spent by a local business at other businesses in the area recirculates. An induced impact occurs when business owners, employees and others spend their personal income from that business within the local economy.

According to Kabbage, “Civic Economics, a private research firm, found, on average, 48 percent of a local independent business purchase is recirculated locally, compared to less than 14 percent of a chain store purchases.”

  1. Support for the Community

Located in Bridgton, Maine, Chalmers Insurance Group has grown from a family-owned business to nine small offices across Maine and New Hampshire. Even with the growth they have experienced, the company has stayed true to their values and the small business feel. Involvement in their hometowns is encouraged by the company. The employees and the company itself give back to the community in many ways.

According to Marketing Director Tia Eastwood, “To Chalmers, there is no distinction between doing well on the job and treating our neighbors well. We believe that local heroes are the small businesses that operate with purpose. Businesses keep our communities thriving. We know, because we insure and protect their assets, which also means their way of life.”

Are you ready to make an impact on your community, but need the funding to do so? A small business cash advance with First American Merchant can provide the working capital your business needs so you can worry less and plan more. Unlike applying for a small business loan with a traditional lender, you will not be drug through an endless documentation process. The application process is simple, fast and hassle-free. To learn more about what a small business cash advance can do for your business, contact FAM today.