Local business refers to any revenue generating enterprise that primarily services a local marketplace and that helps to improve the economic vibrancy of the local community. These enterprises could be organized as for-profit companies, cooperatives, or non-profits that generate earned revenues. Ideally, they should have a strong social or environmental mission. Here are some examples of types of businesses that build community:
They produce, process, or distribute or retail local food.
They are involved in green buildings by using reclaimed materials, improving energy efficiency, or creating tiny homes.
They use bicycles or e-bikes to transport products or services.
They are involved in creating public art
They offer services that improve physical and mental health
They are involved in the sharing economy, connecting people who have things with those who want or need them (tool lending, co-working spacing, car sharing, space sharing).
These kinds of enterprises can easily raise funds from the crowd either by making some kind of discounted pre-payment offer or by seeking loan funds that are repaid from the proceeds of their activities.
