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Are you tired of being part of the rat race? Many aspiring entrepreneurs want to flee from the big cities in search of a small-town haven where they can start anew. However, not many dare to undertake the process of starting a business away from the urban crowd. After all, the economic activity is on the side of the bigger cities, right? Yes, but there are also many benefits that smaller towns can offer to entrepreneurs which might tip the scales in their favor. Read on to find out the plus side of choosing a rural startup location.
Costs are much lower
If you’re relocating office from a larger city, you already know that there you need money in order to thrive. If you compare the cost of renting a workspace or buying land, small towns are much more affordable. That’s true even for the most mundane goods and services. Marketing and advertising costs will be much lower as well compared to metropolises like New York or Los Angeles. Oh, and we forgot to mention lower taxes as well! With the leftover money, you can afford to take more risks that could help in the development of your business. Not to mention that if you made it in the big city, you’ll have even bigger chances of succeeding. Small towns are usually underserved by retailers and other businesses. This means you’ll be starting a business with less pressure.
However, before rushing in you need to research the town and learn the local business community. Could the area benefit from your particular business or is the market already competitive enough? When moving office, make a detailed plan, from hiring respectable movers like Number 1 Movers Hamilton Ontario to getting your business up and running in a new setting.
Starting a business in a small town means fewer competitors
You might argue that small towns automatically mean fewer customers, and this isn’t up for dispute. However, that very same observation has a logical flip side: less competition. Yes, New York City does have eight million people. But demand increases the number of businesses which in turn leads to price wars. The end result: the profits of big-city business owners are considerably reduced. Then there’s the big fish – the serious competitors. Starting a business among experienced companies means it will be tough for you to get market share. On the other hand, a small town or rural setting might be a great opportunity to start fresh. With only a couple of competitors, you will attract customers much easier. Not having to fight for every client will surely make your day at work less stressful. You’ll have more freedom to reinvent the business and give it a personal touch than just following the big-city trends. You’ll easily attract clients as long as you provide good service or product. All in all, you’ll feel more in control of your business.
You’ll be closer to the materials
Let’s say you want to open a restaurant. Your business will require you to have access to a certain type of materials such as fresh vegetables, meat, dairy products, etc. In that case, starting a business close to these resources, for example near a farm, could do you a lot of good. Yes, you can also get these materials for the city restaurant as well, but they won’t be as fresh. Not to mention that you won’t develop the same relationship with the production centers as when you actually live in the community. Local farms will always want to reach out to restaurants or small stores so you’ll find partners fairly easily. And it’s not only restaurants – if you’re working with wood you’ll want to be on the outskirts as well. Will your existing business flourish closer to the materials you’ll need to get it going? Stoney Creek has movers you can turn to for assistance in your office relocation.
Helping the local economy
The effects of locally-owned business establishments on the local economy are detrimental. In other words, if your business is successful, you’re helping the local economy to stay afloat. As a result, rural governments can provide you with tax breaks and other business-friendly policies. To give you an extra push, here’s the positive impact businesses have on their local community:
- higher average income levels
- less income inequality
- decreased poverty levels
- drop in unemployment
- reduced juvenile delinquency
- decline in the crime rate
Alternatively, cities impose more regulations which result in increased costs for businesses. If you already have a business in the big city but are reluctant to move – think again. And no, moving your office won’t be an issue as there are experienced movers you can hire in Dundas. Keep in mind that the top three states for rural business are Virginia, North Carolina and North Dakota. This is a great opportunity to start a business as a foreigner in the US as well, provided you have the permit.
Smaller towns usually mean tight-knit communities. Social connections are much stronger and word-of-mouth advertising will effectively spread around. With good customer service and a friendly attitude that go along with a solid product or service, you can’t go wrong. As long as you maintain the same quality, you’ll find that small-town customers are very loyal. There’s also the fact that you’ll bond with your customers more easily in a rural setting than in the city. The slower pace of life will open the space for a more relaxed way of conducting your business and you’re bound to enjoy the serenity. Getting to know your customers is especially important if you’re not from the area. In that way, you stop being a stranger and people will welcome you with arms wide open.
When starting a business you’ll have to think of building an online presence as well. You’ll find that here referral-based practice still works best. Remember, in small towns, it’s all about relationships and local connections. That’s why the best online strategy is to focus on testimonials from existing clients and slowly grow your social proof from there. Before you know it, you’ll build your clientele and run a successful business. Good luck!