Faced with large national and international companies, local companies can have the feeling of being overwhelmed. How can local businesses survive in an environment of large corporations with huge advertising budgets? How come that small towns are now empty of shops? How many small producers disappear every day, unable to preserve their margins against the giants of the food industry and distribution networks?
What does business network mean for alocal economy ?
Many studies show that buying from a company or a local trader benefits the local economy (money spent circulates longer in thel local area and helps to sustain local businesses and services).
And news shows that a region dependent on one or a small number of industries is often a poorer area. With a more diverse mix of local services and industries, shops and vendors, a local economy is less at risk from the impact of 1 large store deciding to close it’s doors with the loss of jobs and services.
The corporate network for local and sustainable economy develops a local alliance and becomes less dependent on the economies of globalization that’s why we can understand better today the excesses and dangers.
Creating a local network of local business will allow you to:
- Provide a common action for exchange, because the network allows entrepreneurs who share the values of a local economy to come together and act together.
- Strengthening links between local residents and entrepreneurs because the network encourages local residents to shop local and use local providers.
- Develop new initiatives across the territory and the local economy because the network allows entrepreneurs to establish themselves locally and thus promote local trade, to avoid relocation and create new jobs.
- Reduce environmental impact because local entrepreneurs supply local vendors. Thus, you reduce the transport of products and minimize any effect on climate change.
How to create a corporate network for local economy?
Start by creating a small circle of independent-minded entrepreneurs, recruiting by word-of-mouth, colleagues, suppliers and customers already aware of the problems.
Agree on a charter of values and pragmatic goals, identifying key local needs that can be met through concerted action.
Start with simple actions, easily achievable, which success will motivate for the future. You can, for example:
Oganize theme parties and invite the business people to get to know each other
Organise a trade fair and group similar business together to promote communication and friendship.
Create a website presenting the offer of products and services of independent local businesses or join a specialized forum .
Explore local niches that could lead to the creation of companies and even local channels that can provide substitutes for imported products.
Launch a campaign for local purchasing by establishing a common loyalty system to member companies.
These are all ideas that we will explore in this blog. The decision to become self employed is a big deal for many people, and it is a massive shame that many of these businesses fail within the first year.
Let’s share ideas and information and network together to support and help local small businesses to survive and thrive. This blog is designed to showcase small businesses and business ideas to that end.