New business startups that serve the local community,
initiatives to enhance and retain existing businesses
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:
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.