- Small towns are often ripe for entrepreneurial opportunities since they lack businesses offering in-demand products or services
- Assessing a community to determine what kind of business will be popular with residents
- This assessment should also consider other factors such as whether you’ll have the knowledge and customer base necessary to sustain the business
Summary by Dirk Langeveld
Small businesses have long been part of the fabric of small towns. Businesses ranging from small manufacturers to Main Street coffee shops become a trusted and valued part of the community, and a go-to destination when you need a particular product or service.
Small towns offer ample opportunities for starting a small business that can serve the community. Whether you live in such a community or simply want to set up a company in one, doing your research ahead of time can help you identify and fill gaps in what type of business residents would like to see.
- A simple web search, as well as visits to the town and its neighbors, can help you determine what type of businesses are missing in the area
- Asking residents what they’d like to see in their community and discussing the matter with the local chamber of commerce can also be useful, while also developing networking connections
- After identifying gaps in a town’s business offerings, you can choose a business idea to pursue that aligns with your own interests in strengths
- Your assessment should also determine if there is a sufficient customer base to support your company, whether you have adequate knowledge to run it, and if you can ensure reliable products and services