How Local Businesses Can Add to Property Value
Small businesses are the heartbeat of a community, sparking job opportunities and innovation. When they flourish, the local economy gets a boost, leading to a rise in real estate values. This growth often attracts investments in new construction homes, enhancing the neighborhood’s charm. In this context, companies like NewHomesMate are becoming increasingly important. They offer an easy way to find, compare, and buy these new construction homes and connect people with evolving communities.
Small Business Impact on Home Prices
The 2011 American Express OPEN Independent Retail Index study reveals that in the areas rich in small businesses, real estate prices went up by more than 50% over the last 14 years. This study underscores a well-known fact: small businesses are vital to community health. It also demonstrates the tangible benefits of supporting local shops. This is not just about preserving the local charm, but also about substantial economic advantages like enhanced property values and job creation.
The Heart of Community Prosperity
Small businesses contribute to local economies in numerous significant ways. They are an integral part of a community’s economic and social scenery.
Here are the most substantial ways for small businesses to make a real difference:
- Job Creation Powerhouse: The Small Business Administration (SBA) reports that small businesses have been responsible for 12.9 million new jobs over the past 25 years, which is two-thirds of all new jobs. According to American Express statistics, independent small businesses sustain thousands of jobs in retail, dining, and entertainment sectors.
- Circulating local money: Small businesses often buy their supplies locally, which means more money stays within the community.
- Supporting local services through taxes: The revenue from small businesses turns into local taxes, funding essential services like education, infrastructure, and emergency responders.
- Unique Community Identity: Small businesses bring uniqueness and creativity, helping a community stand out. They can become tourist attractions and local landmarks, adding to the community’s appeal.
- Engaging with the Community: Small businesses often give back directly to their communities by sponsoring local events and charities, offering workshops, and creating avenues for customer interaction.
- Environmentally Friendliness: Small businesses typically have a smaller environmental footprint by settling in the existing buildings and sourcing locally. Plus, being local reduces travel needs for customers, lessening environmental impact.
These diverse contributions of small businesses underscore their role not just as economic engines, but as pillars of community identity and sustainability. Small businesses are indispensable in shaping vibrant, self-sustaining communities, from sparking job growth to fostering environmental awareness.
A Key to Community Success
In the grand scheme of things, small businesses are incredibly important. Not only do they contribute significantly to the area’s economic climate, but they also play a crucial role in local communities. They demonstrate their substantial impact by helping to boost property values and driving success. As these businesses become integral to the community, they can achieve truly amazing things. They’re not just shops or cafés; they’re essential in making neighborhoods and towns better places for everyone.
- by Matt Watts
