Community-based small businesses are becoming more prevalent as people move away from urban centers to more suburban or even rural communities. This is partly due to the opportunities these types of businesses offer new entrepreneurs. According to recent data, primary city growth rates have declined in recent years, while suburban growth rates have exceeded those of primary cities as people seek an escape from city-living and are less bound to the geographical region as work-from-home opportunities continue to rise. This is creating an environment in which community-based businesses can thrive.
Some of the businesses benefiting most from this growth include animal care and services, like dog walking and grooming, neighborhood plant nurseries as people continue to beautify their living spaces, wedding businesses to support the industry that had roared back to life as people start planning for pandemic-postponed events, and many others that could prove to be exciting opportunities for entrepreneurs. Plus, many of these community-focused businesses have lower barriers to entry, which means that entrepreneurs without college degrees are able tocan find success and support their communities.
Benefiting from Small Business Growth
These businesses often have lower start-up costs than their urban counterparts, making them more accessible for new entrepreneurs. Small businesses also provide opportunities for people to be their own bosses and create a business tailored to their community’s needs. This is especially important in suburban and rural communities, where residents may have difficulty accessing goods and services that are available in urban areas. They also are incredibly important to the country. Small businesses are the backbone of the American economy and employ 44% of Americans.