4 Reasons Small Town Businesses Thrive
Small towns are rarely what people talk about when it comes to starting a small business. They’re not where the action happens, most of the time, and on paper, they seem to limit growth because of a smaller population.
However, the truth is small cities are more likely to be accepting of entrepreneurs. While big cities have companies in spades, their smaller counterparts will welcome the influx of cash and jobs that come from new and exciting ventures. Here are four reasons why small town businesses thrive and how you can find success in a rural area.
1. You’re In On the Ground Floor
One of the issues you may face going into a big city context is that it has so much history. Favorite establishments are already deep-rooted in the local community.
Take Philadelphia for example; if you’re in South Philly and have a hankering for a cheesesteak, we’re willing to bet that Geno’s or Pat’s comes to mind. Collectively, these two businesses have over a 100-year history in southeast Pennsylvania. Therefore, if you open a restaurant in the vicinity that serves cheesesteaks, you better have one hell of a recipe and business model to compete with these legends.
On the other hand, when you start a small business in a suburban area or a small community you get to be a part of its growth. Think of it as putting your roots down before any other trees are there. You can be a pioneer and bring something new to the neighborhood. Instead of being one of many, you’re unique and the one and only.
Whether you open a thrift shop, a service business, or a bed and breakfast, you have the opportunity to be the first — and that’s something you don’t get in the big city.
2. There’s More to Gain
While more money is present in a big city, a small town can offer much in the form of perks and startup incentives. For example, going to a small town in a state that has lower taxes can give your company more breathing room, and thus more power to grow.
It’s hard enough to run a profitable business, so you’ll want every advantage you can get.
3. It’s Easier to Keep Employees
While big cities might attract top talent from far corners of the world with their bright lights and large corporations, small cities have their share of homegrown talent too.
Although larger cities have a higher population growth rate (thus a larger pool of talent to choose from) it can be harder to keep whomever you hire because there’s always a better deal waiting for them in the wings.
Small cities still have competition for great employees, but it’s far less intense. They’re easier to retain because not only are there fewer companies vying for their attention, the companies you do have to compete with are probably in the same boat as you.
4. It’s Commute Friendly
Big cities are notorious for their traffic. Commutes during rush hour can be difficult at best and if mother nature throws any weather precipitation into the mix, you might as well add more time onto your daily commute.
Although It seems like a small thing, there’s a reason logistics is a big deal. The more difficult it is to get resources from one place to another, the less you’re going to get done and the more it will affect employee morale and productivity.
Small cities don’t have this problem because there are fewer cars on the road. Getting from your house to your business isn’t a problem and you might even be able to walk to work.
All in all, the kind and size of the city you decide to put up your small business in will depend on your needs, strengths, and weaknesses. What’s important is you don’t ignore smaller cities as an option. Small town businesses can thrive just as much, if not more than their big city counterparts.