U.S. Virgin Islands Invest’s Post

This week we celebrate the relentless & indomitable spirit of 33 million small businesses & entrepreneurs in every community across the United States. It is National Small Business Week 2024 | April 28 - May 4. Regardless of the industry or profession, owners of… restaurants, retails shops, hair salons/barber shops, plumbing or HVAC or electrical or painting contractors, machine shops, home builders, pet services, web design, landscape & lawn care, financial advisors, law firms, CPA firms, doctors, & many other small business and entrepreneurs... start their day in thousands of cities, towns and villages across the nation. The impact these small businesses & entrepreneurs have on each community include: > Positive economic activity & tax base in each county. > Offer products and services valued by citizens & homeowners in each neighborhood. > Supply their products & services to other local, regional, national & international businesses. > Create jobs in each community. It is estimated that 50% of jobs created each year are created by small businesses. In many cases, a high school student will earn their first check from a local business. > Provide volunteer leadership & charitable donations to local schools, sports programs, churches & a range of non-profit organizations. Over the last 20 years, I have been fortunate to observe many owners as they embraced the challenges & the opportunities to start, build & grow their small business. Each entrepreneurial journey is as unique as each owner, however, there are some common traits I have witnessed. The common traits includes: 1.     Choosing their hard. Starting, building, & scaling a small business is not easy & it is not for everyone. 2.     Successfully navigate and manage change. Each business must anticipate and respond to: New customer’s needs, new competitors entering a market, new laws & regulations, inflation, uncertain economic conditions, etc. 3.     Growing & Developing. In addition to their own learning & growth, owners attract, develop teams & retain & reward talented employees.   4.     Resilience & Perseverance. The survival rate of each business is based on the grit, perseverance & resilience of the owner & their teams. Competing for a customer’s loyalty against the arrival of new competitors & business owners dealt with the 2007 Recession & the COVID crisis that directly threatened all businesses. 5.     Humility and Patience. We all have Blind Spots. As the business grows, owners recognize they don’t have all the skills needed to run/grow/scale the business. Leaders learn by taking chances, building teams, innovation, experiments, & learning from mistakes. As many experts tell us... we learn more from our mistakes/failures than we do from our successes/victories. The impact of small businesses is felt daily in each state, county & village. These small businesses impact each of our families. Congratulations & best wishes to every small business!    #SmallBusinessWeek  

1813: Dear big business building Prof. Dr. Iyengar, please explain with an example about “Big dreams with small quantities”: If you have noticed that one of your local "mom and pop" stores has disappeared recently, you're not alone: in many areas, retail rents are rising, driving small businesses out of the communities they serve. Gentrification and competition from large chains exacerbate this challenge, displacing neighbourhood businesses and making it more difficult for new entrepreneurs to find affordable retail spaces. Vibrant neighbourhoods are built and run on small businesses. When local businesses close, residents lose access to critical goods, services and jobs. These tangible impacts do not even reflect a broader loss of culturally and ethnically diverse commercial corridors, which have preserved the unique character and fabric of neighbourhoods for generations. This increasingly rare and valuable cultural and ethnic diversity promotes social connections and cohesion among residents and visitors alike. For the roughly 2 million Asian American and Pacific Islander (AAPI)-owned businesses in the U.S. today, entrepreneurship is an important wealth-building pathway. AAPI immigrants start businesses at a higher rate than the general U.S. population, yet they faces significant obstacles to business growth, including language barriers and limited access to capital. Across six major urban markets, more Asian business owners of colour (41,988) are approaching retirement than Black (5,362) or Latino (22,051) proprietors. The National Coalition for Asian Pacific American Community Development (National CAPACD), a member of the Asset Building Policy Network (ABPN) – a network founded and supported by Citi Community Development – is an advocacy organization that advances the economic empowerment of the AAPI community. These efforts to follow trends among AAPI small business owners have led us to take a closer look at the impacts on communities of wealth loss and the need to support and preserve local small businesses. Small Business, Big Dreams, a report by National CAPACD and supported by Citi, highlights how entrepreneurship is a critical asset-building pathway for many members of the AAPI community. The study explores a variety of policy and practice solutions aimed at the retention and preservation of greater numbers of small, culturally-relevant businesses as community cornerstones vital to the growth of local economies. Combining analyses of federal data with primary data collected from seven regions across the country, stakeholder interviews and client surveys, the report makes a significant contribution to our understanding of how small businesses provide opportunities to the entire AAPI community. Such data is key to supporting the growth, preservation and affordability of the countless small businesses that remain socio-economic pillars of AAPI and other immigrant communities. Indian Business Builder

It's August 1st, 2024, which means that I've been running my business Glam Gardener NYC for 4 years. Running this business has been the hardest thing that I've ever done. It's also been the most authentic thing that I've ever done. I want to take a moment to check in with my LinkedIn fam, to share the good, the bad, the ugly, and the truth of what it's been like. The good: Over the past four years, I've experienced so much success. A New York Times feature in 2023. We're at the best markets in our region: New York City Comic Con, NYC Vegandale, Lunar Faire. We partner with the NYC Department of Transportation, public schools, nonprofits, and 20+ organizations across NY & NJ to bring nature-based education to thousands of people. This work is so gratifying and needed in my city. Most importantly, I'm supporting myself through my business, in this economy, in one of the most expensive regions in the country. WIN! The bad & ugly: I'm not a millionaire (yet) and not even close, lol! Nobody teaches you how to run a handcrafted artisanal business. Traditional business people would call this silly. And they're kind of right. Running this business is so labor intensive. It's extremely hard to scale. I have a thousand jobs within my company and a million things to do at all times. So many menial tasks are still on me. Scaling takes a lot of effort, time, and money, and quite frankly, I'm still figuring out how that's possible considering my business is centered around hyper-regional and seasonal plants. I've sacrificed so much in the past decade to acquire an education and build this business. Sometimes I mourn all of the partying, traveling, and time with friends that I missed out on in my twenties. I'm being a bit dramatic with that last one, I know. The truth: I have so much gratitude for this business and everything that's come with it. It's also been tremendously difficult at times. The duality of this has been weighing on my heart and I haven't felt sure of how to share that with the people that are rooting for us. Something clicked with me late last year. I finally was able to admit to myself that this is HARD. Doesn't matter if you love it. Doesn't matter if you're grateful. It's HARD, point blank. That's why my #1 goal for 2024 was to be easier on myself as a business owner. In the world of social media, marketing, and comparison, I hope for this check-in to be a reminder to us both that: It's completely natural for this process to feel hard. It's completely natural for this process to take time. It's completely natural to aspire for more and not yet feel ready. It's completely fine to just be good enough. It's okay to not do it all. Nobody has it fully figured out and I choose to revel in the ambiguity of it, because life is a beautiful & treacherous journey and I'm celebrating my business' fourth birthday by being authentic with the people that have been following along. We're gonna be okay, Glam Fam. Cheers to 4 years <3

I recently welcomed Andrew Gibbs from Business MK to the Old School Project for a chat about my personal journey in establishing a socially impactful business. There often isn’t the time to reflect on how and why your career goes in a certain direction, but for me the opportunity to use the skills I had acquired in a consultancy career in my own community felt like the logical next step. Having a Board made up entirely of local residents, a membership of over 200 (60% of whom have an MK12 postcode), and a staff team who live in the Town means that the business is personal to us all. We don’t have to struggle to identify local issues or needs; it just happens organically as part of our day-to-day work.  To be able to address these needs at the same time as making a profit is the challenge, but one we are meeting despite the external challenges of the last few years. As the city of Milton Keynes grows, I wonder if this locally-driven, socially impactful, community-led business model provides one of the answers to sustainable and inclusive growth. There are socially entrepreneurial individuals across MK who instinctively know the problems faced in their part of the city, and who (with the right support) could develop sustainable businesses which address local needs. That’s why my next logical step has been to explore the barriers and opportunities facing people who want to harness community spirit and knowledge to develop community businesses. Together with Tom Bulman, Junior Smart and Paula Rogers, (fellows and supporters of the School for Social Entrepreneurs), we've been conducting some research to look at how we might better support socially entrepreneurial individuals in Milton Keynes. We are looking forward to sharing the findings soon, but do get in touch if you think this is something you'd be interested in supporting or would like to know more. https://lnkd.in/g5NygsBG

Reasons to Support Locally Owned Businesses Supporting locally-owned businesses can have numerous benefits for both individuals and the community as a whole. Here are ten top reasons why you should consider sticking local and supporting your local businesses: Boost your local economy When you purchase from locally-owned businesses, you are contributing to the local economy by keeping money within the community. This money can then be reinvested in local services and businesses, creating a positive ripple effect Creating jobs Local businesses are often the biggest job creators in a community. By supporting them, you are helping to provide employment opportunities for local residents. Preserving the community's character Businesses that are owned by locals are often unique and reflect the character of the community they are in. By supporting them, you are helping to preserve the distinctiveness of your community. Environmental impact Locally-owned businesses tend to be more environmentally friendly than larger chains because they often source their products and services locally, reducing transportation emissions and waste. Supporting entrepreneurship Local businesses are often started by entrepreneurs who take risks and invest in their local communities. By supporting them, you are helping to encourage more entrepreneurship and innovation in your community. Personalized customer service Businesses that are locally owned often provide more personalised and attentive customer service than global companies. They are more likely to build relationships with their customers and cater to their individual needs. Building community connections Businesses that are owned by locals are often involved in their community and support local causes. By supporting them, you are helping to build stronger community connections and a sense of civic pride. Positive impact on property values When a community has a thriving local business scene, it can lead to increased property values because people want to live in vibrant, economically healthy communities. Feel good factor Sticking local is not only beneficial for individuals but also for the community as a whole. By choosing to shop locally, you are contributing to the local economy, preserving the character of your community, and building stronger community connections. Remind yourself that you are supporting a local business to survive for all the amazing reasons we’ve mentioned above. Cultivate network expansion Instead of stacking competitors up against one another to vie for the top spot in the local area, locally owned businesses that collaborate by linking professional circles can create a more extensive network than they could on their own.  All for one and one for all!

Building Surfstop in Public - it's time to change the game! For the longest time, I’ve pushed to make Surfstop a success. Truth is, like millions of small businesses, it hasn’t broken even yet, and I’ve lost more money than I’d care to admit. Does that make me a failure? Nope. I’ve grown other ventures to millions in a year, so I know it’s possible to turn things around. This time, I’m building Surfstop in public to show young entrepreneurs that you can rise again after setbacks. I’ll be as transparent as possible to ensure this journey benefits you. It’s about being real and proving that success comes from persistence. So, what’s the plan? Surfstop will become a one-stop shop where small businesses and individuals get affordable digital support, learning, printing, design, and career assistance. We’re here to serve those often overlooked by the big players. Now… while we aim to grow Surfstop into a profitable venture in the next 60 days, this isn’t just about business. It’s about giving back to the community and proving that with the right focus, you can always turn things around. As it stands, there’s absolutely no capital to inject—everything will be financed from revenue generated by the business. Stay tuned—this is just the beginning! Let’s grow Surfstop into something that truly makes a difference. If you’d like to follow this journey via email, comment with ‘Surfstop’ below, and we’ll get you sorted.

🌟 Wondering how to take your business to the next level in 2024? Canadian businesses have access to a plethora of grants and funding opportunities designed to foster growth and innovation. Our guide highlights key opportunities for Canadian business grants, tailored to various types of entrepreneurs and businesses. Whether you're a startup or expanding your operations, these resources can make a significant difference. Read on- https://vist.ly/3di2x BeGlobal can assist you in identifying and applying for these grants. 📞 Contact Us: (506) 268-0554 | (506) 804-4996 📧 Email: info@beglobal.ca #BusinessGrants #FundingOpportunities #CanadianBusiness #StartupCanada #BusinessExpansion

This is a golden oldie, but as Odigo’s Birthday approaches, we always like to reflect on where we came from and why we love the long lazy days of summer to foster creativity and spark new ideas. The concept for Odigo was literally born at a plastic picnic table at the community swimming pool while our founders’ children dove and swam and giggled. Do you have an idea for a business that suits your life goals? Let’s chat! https://lnkd.in/etCq_DEq #Entrepreneurship #WorkLifeBalance #OdigoLife

Debating a home business but aren't sure where to start? Check out this list of ideas: https://loom.ly/mJKhH4E #SmallBusiness #HomeBasedBusiness #CommunityFutures #EastKootenay #CanadianStartUps

Supporting Local Businesses: The Heart of Sinovich Investments At Sinovich Investments, we believe that the success of a community is deeply intertwined with the success of its local businesses. As a company, we are committed to fostering an environment where entrepreneurs and small enterprises can thrive, creating vibrant hubs of commerce and service. Our investment in lifestyle centres, such as Zambezi Junction and Sinoville Corner, reflects this dedication to community-driven growth. Our lifestyle centres are home to a diverse range of local businesses, each bringing unique value to the community. From family-run restaurants, cafes, and takeaways to independent beauty salons, tech stores, and grocery shops, we pride ourselves on creating spaces where local entrepreneurs can establish themselves and grow. These businesses not only meet the everyday needs of our shoppers but also contribute to the richness of the community, offering personalised services and products that reflect local tastes and preferences. One of our key priorities is to support these businesses by offering them prime retail space and the infrastructure needed to succeed. We understand the challenges small enterprises face, from rising operational costs to the competition from larger chains, and we actively work to provide affordable and flexible leasing options. Our centres offer high foot traffic, convenient parking, and a welcoming atmosphere, ensuring that local businesses are positioned in an environment where they can connect with a broad customer base. Beyond just providing a physical space, Sinovich Investments also strives to support local businesses through ongoing marketing and promotional efforts. We actively promote the businesses in our centres across digital platforms, including social media, and our website. This visibility helps increase brand awareness, attract new customers, and drive sales. At the heart of our investment strategy is a desire to nurture businesses that contribute to the economic and social fabric of the communities we serve. Many of the businesses operating in Zambezi Junction and Sinoville Corner are owned by local families or entrepreneurs with deep roots in the area. By supporting these businesses, we are helping to create jobs, stimulate local spending, and build a sense of community. In a time when supporting local businesses has never been more important, Sinovich Investments remains steadfast in our commitment to nurturing the enterprises that form the backbone of our communities. Together, with our tenants, we are creating spaces that not only cater to the needs of our residents but also build a vibrant, sustainable future for local commerce. Zambezi Junction Location: Corner of Breed Street and Zambezi Drive, Montana Park. Sinoville Corner Location: Corner of Braam Pretorius and Vinko Street, Sinoville. #LifestyleCentres #SupportingLocal #SinovichInvestments #ZambeziJunction #SinovilleCorner #CommunityFirst #LocalBusinesses