Owning a business is the goal of many would-be entrepreneurs. Being your own boss has certain perks, including making your own hours and not having to report to anyone but yourself.
But owning a business is a lot of work, especially for new business owners trying to get their businesses off the ground. According to Bloomberg, eight out of 10 entrepreneurs who start businesses fail within 18 months of opening their doors. The Small Business Association indicates the numbers are not so dire, saying 30 percent of new businesses fail in the first two years of operation; 50 percent during the first five years; and 66 percent during the first 10.
Local businesses face an uphill battle to survive, but there are many things that Duncanville citizens can do to support these valuable additions to our community. Listed below is just two ways we can support our local business.
*Shop locally. Shopping locally not only supports local businesses, but it also contributes to the local economy. Shopping locally keeps money in our community, which can benefit everyone. Shopping locally produces a trickle-down effect, as local businesses that are thriving may patronize other local businesses, and so on. This, in turn, helps grow other businesses in our community, making it a nicer place to live and work.
*Attend grand openings. Our community is unique, and the vibe of our community is defined by the businesses that call Duncanville home. Attend grand openings to show you are invested in the quality and vitality of our community. When others see a business in Duncanville doing well, others may be more inclined to shop there as well.
Supporting and celebrating our local businesses will instill a sense of community pride in Duncanville and benefit our local economy in a myriad of ways.