Successful Small Businesses Drive Local Economy

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The MML Foundation recognizes that successful local government is central to the social, cultural, and economic recovery from the pandemic. To be successful, every municipality needs engaged and active citizens. A strong civic base is key to ensuring good governance and creating an equitable and vibrant place. A strong local economy is essential in supporting a strong civic base. The keystone of a strong local economy is small and micro business.

One of my favorite stories about small business is about a smart, inspired woman named Wendy. When she was in her 20’s, she moved away from home and went to work in an esteemed chocolate shop. After having worked there for several years, she realized two things, that she missed her hometown and that her hometown needed a chocolate shop. She moved back and went directly to the local Chamber of Commerce. Everyone at the Chamber got a good laugh at Wendy when she told them her ideas. They joked about Willy Wonka, told her good luck and sent her on her way.

That’s where she was when I met her. She came into our space because she’d heard that we offered supports for entrepreneurs. After talking, she took one of the courses and developed a business plan. She used her skill, creativity, and incredible persistence to launch one of the best chocolate shops I know of. It’s been extremely hard and yet, she’s kept on going. She’s moved spaces and expanded, and her shop is a fixture in the community that hires local people and functions as a beautiful third space for anyone who decides to stay for a while and hang out.

The value of small and micro business is undeniable. When I asked my thirteen-year-old why it was important to foster and support local business, he told me, without prompting, that small businesses create wealth in the community and generates jobs. He’s right. And these are jobs with relationships and commitments attached. We need more small businesses to be successful in our communities.

The success of local businesses is directly tied to the success of the local municipality. I’ll quickly point out a few of the many aspects of this linkage. First, the amount of water that small businesses use helps to keep our water supply affordable. Second, the taxes that small businesses pay helps to keep fireman and police services functional, support education and health services, road repair and helps to keep to doors on our local libraries. In short, small businesses support and strengthen many parts and pieces of our local community. All this matters, but maybe more importantly, small businesses add exponentially to the vibrancy and life in our communities. Their deep connection to the economic and social success of our communities is undeniable. They help knit together our shared story and build community wealth.

At the Michigan Municipal League and MML Foundation, we define community wealth building as strategies that build community and individual assets, creating resilient and adaptable systems to address social and economic needs. We approach community wealth building through eight pillars that we believe are necessary for thriving communities: Arts and Culture, Infrastructure, Financial Security, Lifelong Learning, Environment and Sustainability, Public Health and Wellbeing, Trust, and Belonging.

 

On Small Business Saturday, go the extra mile to seek out and purchase whatever you can from local businesses. But don’t just do it on Small Business Saturday, do it every week. And, don’t stop there. Advocate for small business. Be a vocal supporter and encourage your community to make good choices about zoning and permitting – in short, let’s work together to make sure that our local entrepreneurs have a fair shot at success.

We desperately need them to succeed to help build community wealth in so many ways and they need us to help do more than keep the doors open.