How Small Businesses Offer Big Gains for Health and Wellness in Communities
Small businesses are vital to the fabric of communities. They provide essential services, promote physical activity, create jobs, stabilize housing costs, bring diversity, stimulate the economy, strengthen social ties, and more. Niche Healthcare presents a closer look at how small businesses can offer big gains for health and wellness in local communities.
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How Small Businesses Provide Access to Health Services
Small businesses are often the sole providers of health and wellness services in underserved areas. This means that they are responsible for making sure that these services are available to those who need them most. From healthcare clinics to medical supply stores, small businesses offer access to essential services that would otherwise be unavailable or unaffordable.
How Small Businesses Promote Physical Activity
By providing access to fitness centers and recreational activities, small businesses also help promote physical activity in their communities, explains Health Fitness. Offering affordable memberships or classes will encourage individuals to stay active and healthy throughout their lives. In addition, many small businesses also sponsor community sports teams or activities such as 5K races or bike rides that further encourage people in their community to stay physically active.
How Small Businesses Create Jobs That Support Families
An important role of small businesses in creating jobs that support families is by providing employment opportunities with competitive wages. According to the U.S. Small Business Administration, over the past 25 years small businesses have generated 12.9 million new jobs. In addition, small business owners enable individuals to make ends meet while still having enough money left over for other necessities such as healthcare or childcare expenses. This helps ensure that families have the resources they need to thrive in their communities.
How Small Businesses Help Stabilize Housing Costs
Renting from a small business provides tenants with a safe and affordable place to live without having to worry about skyrocketing housing costs associated with home ownership. And providing rental options for those who cannot afford traditional home ownership options allows those in need to have a roof over their heads.
How Small Businesses Bring Diversity
In addition to providing access to essential services and helping stabilize housing costs, small businesses also bring diversity into their communities by giving minority-owned businesses an opportunity to succeed on an equal footing with larger established companies. By supporting minority-owned businesses, small business owners create a more inclusive environment where all individuals have the same opportunity for success regardless of race or ethnicity.
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How Small Businesses Stimulate the Economy
The economic impact of small businesses on local economies is undeniable. They stimulate economic growth by injecting capital into local markets through job creation and investment opportunities. They also provide goods and services at competitive prices, which helps keep prices low for consumers while increasing profits for entrepreneurs.
How Small Businesses Strengthen Social Ties
According to Zapnito, small business owners help strengthen social ties within their communities by creating relationships between customers and employees, as well as between entrepreneurs themselves. Networking events or shared workspace opportunities like co-working spaces or incubators allow entrepreneurs from different industries to come together under one roof with a shared purpose — to grow their respective ventures from startup successes into profitable enterprises!
How To Start A Business And Choose An LLC Designation
Choosing an LLC designation for your business can be one of the most rewarding decisions you make. As an LLC, you’ll have access to greater legal protections and tax benefits that can benefit not only yourself but also the local community. With limited liability protection, you will be held accountable only for the assets of the business instead of your own personal assets, thereby protecting both yourself and any potential investors.
As an LLC, you’re also able to keep more of your profits with lower tax rates than other business structures. By choosing this route, you’ll not only secure a stronger financial future for yourself but will also help to stimulate economic growth in your community over time. Note that you will need to elect a registered agent who can be the point person for government, tax agencies, and law first. Learn more about this role from Registered Agent Ready before electing someone.
Help Better Your Community
All too often we forget how much impact seemingly insignificant things like starting a new business can have on our local communities. But when done right, these actions can lead to positive effects across multiple sectors, including health & wellness. So if you’re considering starting your own enterprise, let the positives you’ll bring to your community guide your decision.
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