It may be possible to build a growing small business in the midst of a declining small town. If so, it will be because we worked together.
The defining characteristics are:
- A small business,
- In a rural or small town setting,
- In a flat or shrinking economy and population.
The challenges include:
- Pressure from competitors in bigger cities,
- Pressure from competitors online, world wide,
- Scarce, or variable quality, resources to assist you locally,
- Tight labor supply, and a graying workforce,
- Lack of skills in your workforce,
- Isolation from your industry peers.
But for each challenge, there is also opportunity.
- The online market opens the world to you.
- Involvement in your community is your way to fight against decline.
- Land is usually cheap, compared to growing areas.
- Regulatory burdens tend to be lower than in well-developed regions.
- A little payroll usually goes a long way.
- Work ethic is usually high.
These are the issues and subjects this blog may cover in the coming months. Expect to see links, article summaries, and editorial comments. If this sounds like your new favorite subject, then hang on!
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