Advantages of a small business being involved in its community
It is often debated that is a business’s responsibility to give back to the community which has provided it with profits. It is obliged to invest that profit on the betterment of the society. However, that is not the only side of the story. If a business is more involved in its community, then it is actually more beneficial for the business itself. And this expands to the businesses with all sizes, especially those who are working on a small scale and with low resources. As community service provides it with the opportunities that would otherwise be hard to get in contrast with competition.
It is an excellent way to increase your brand awareness among the masses. People will be able to relate to your name with a positive image in their minds as they can connect your business success to the prosperity of their community. Take the examples of small banks in this case. They lend money to the people they trust. You are doing the same thing here by building trust in the community where your profits are located. Hence people will be keener to do business with you than with any of your competitor.
Here you can create vital relationships and create opportunities. Through networking, you will be able to know your potential clients, suppliers and prospective allies on a more personal basis. It will help the business in the long run. It will give you many occasions when you can introduce yourself to potential financers so that you can increase the financing opportunities for your business.
It is not only about the material prospects of networking. When two entrepreneurs meet, they are able to give each other valuable advice to each other regarding their experiences which can help the business greatly. They can suggest ways for you to boost your sales, formulate effective marketing strategies to increase your customer base, and can also help you improve your production processes.
These people can also be a vital asset to you as your informal marketers. They can promote your business and your business ideas in front of other people. They can also help build your reputation by associating your name to their already established names. Furthermore, they can introduce you to others, thereby helping you make more contacts.
Office work can be very demanding. When you are completely focused on it, you rarely have time to give to others. But sometimes, it also becomes difficult to socialize among your coworkers in an informal manner. Even in small companies, people are busy in their work and are concentrating on their sales and accounting and learning and using technology while some would be busy helping the customers on the phone. There would be little concept of a family if they can only perform in their specific departments. Community service lets them connect on another level creating a sense of homeliness.
Community involvement is the best thing to do if you want to help the community as well as build your business. It adds to the driving factor of your revenues, help create more engaged workforce and generate more loyal customer base for the business. It helps change the lives of the people who will in return help to develop your reputation in the market.