Why Should You Care if a Local Small Business Succeeds?
According to Intuit Canada, 15% of new start-ups fail in year one, while 50% won’t be able to celebrate a five year anniversary. Knowing this, should you feel a sense of protection for the new shop that just opened up down the street? If you didn’t invest in the venture, you have nothing to gain or lose, right?
Local businesses may seem old-fashioned—and many are. But these provocative brick-and-mortar establishments are creating sorcery and magic in our hometown communities; they contribute local character and prosperity in an ever-increasing homogenized world. These one-of-a-kind businesses with distinctive character contribute to more than just a proud legacy. They generate dramatically greater local economic activity than procurement from a chain business—and they’re gaining ground over retail chains and big box stores all across North America.
