Just until very recently in the history of human being commerce have we become globally integrated; for almost all of history, all businesses were local businesses. Glow Serp Consulting
Advantages of being local
Such a model has clear advantages and a disadvantage, being local means you can tailor your response to a buyer need much more accurately when compared to a company which considers you a region on the map. In the same time the trust you can develop with your customers can not be matched by non-local competition. Every day you are an integral part of their lives you might even frequent the same pubs or show similar recreational interests. Becoming local can help reduce your response time for any urgent or time critical job. Where time is an issue, nothing can match an area business.
The main disadvantages those businesses face in comparison to their non-local opponents is an concern of resources available. Many non local opponents to the businesses are normally larger and still have considerably more resources; both in conditions of physical plant devices material but also in conditions of human resources. Being larger with a wider area of opportunities and with much more income it means they can defray the costs of procedure over a larger range of contracts. Localized businesses also lack the same ability to tap into the international markets both as a source for sales but also as a source for suppliers. Thus they are not able to take good thing about any cost saving from tapping the international provider base.
Importance of local business
The importance of having a solid local business cannot be over explained, for it is these small to medium companies that are now providing the bulk of new employment opportunities. They are also the ones paying local taxes, and paying local wages. All of which stimulates the local economy and provides by itself more opportunities for development. If an area’s local businesses go under or close down for whatever reason, the effect is seen in a short time with the rapid progress a post-industrial wasteland. This pushes away other businesses and so causing a viscous cycle to a point where inhabitants starts to move away, thus tearing the center out of the local community.