The Huge Impact of Small Businesses 

Oct 23, 2023

As providers of capital, we see firsthand the power that our small business customers have in uplifting their communities. The businesses we serve are small, but their impact is monumental. 

Nothing makes us prouder than celebrating what small businesses can do. Here are some of the most notable ways that small businesses make a difference in their communities. 

  1. Boosting the local economy. The revenue that comes into small businesses flows right back into their communities. This is especially pivotal in underserved communities that need financial
  1. Creating jobs. The more jobs available at the local level, the easier it is to find a job. In fact, small businesses have contributed 2/3 of the jobs added to the U.S. economy over the last 25 years. Instead of competing for positions at larger companies in major cities that receive a surplus of applicants, community members can find opportunities in a less competitive setting without the commute. 
  1. Fulfilling needs. Small businesses make it easy and efficient for people to get what they need. Why shop online or travel far when you can find what you’re looking for down the street? 
  1. Shaping their community’s character. With their innovation and creativity, small businesses contribute to the personalities of their communities. The unique products and services they provide make their communities special, attracting tourists and creating a more vibrant living space for locals. 
  1. Giving back. Small businesses care about their communities and want to see them flourish. Whether they donate goods or services, conduct marketing efforts, or host or participate in events, small businesses often support local nonprofits or events for causes they care about. 
  1. Supporting fellow small businesses. Small business owners are usually happy to spread the word about other small businesses in their communities. This shared support helps networks of small businesses thrive. No one will be a more passionate advocate for small businesses than a small business owner. 

In short, small businesses are the foundation of their communities’ novelty and success. We’re proud to help them on their paths to becoming invaluable community resources.