November is Entrepreneurship Month! Entrepreneurship can provide many benefits at the individual level, at the family level, and at the community level. According to Main Street America’s research, approximately 175,000 businesses in Main Street communities employ approximately 2.1 million individuals. But beyond jobs, entrepreneurship can impact, influence, or spur resiliency, creativity, community pride, and so much more. Communities that embrace and support small businesses, especially through a strong local entrepreneurial ecosystem, benefit from a wide range of positive outcomes.

Entrepreneurs are problem solvers. They identify market gaps and opportunities, recognize unmet needs, and identify solutions. This innovative entrepreneurial spirit motivates the development of new products, services, and experiences for the use and enjoyment of residents and visitors. Local entrepreneurs are often better informed about the needs and preferences of their communities than outside businesses, enabling them to create solutions that are better suited to local conditions. Entrepreneurs can also help diversify the local economy by reducing the dependence on a specific industry, making the community more resilient to economic downturns, industry shifts, and external shocks.

Small businesses support communities in many ways, from stronger local economies to vibrant third spaces. Here are three ways that supporting small can help revitalize your Main Street.

Social Impact

Entrepreneurship has a significant social impact on local communities. Entrepreneurs often invest in their communities by sponsoring local sports teams and cultural events, supporting local charities, and participating in community development projects. This sense of social responsibility helps foster a strong community spirit and encourages others to participate in local initiatives. Many entrepreneurs are supporters and board members of their local Main Street Program. Our 2023 Small Business Survey revealed that 80% of small business owners live in the community where their business is located. Local business owners are more likely to reinvest their profits into the community than large corporations. They can have a network of local suppliers, collaborate with other small businesses, and help to create a sense of pride within the community. 

Community Resiliency

Entrepreneurs play a role in developing the local talent pool by providing training and mentorship opportunities. Through internships, apprenticeships, and job training programs, they help to build a skilled workforce that can contribute to the growth of the local economy. By supporting education and skills development, entrepreneurs not only enhance the employability of residents but also create a pipeline of future entrepreneurs and community leaders.

Cultural Influence and Community Identity

Entrepreneurship has a significant role in shaping the culture and identity of a community. Local businesses often reflect the unique character and traditions of the area where they operate. Whether it’s a family-owned restaurant serving traditional dishes or an artisan shop selling locally made products, these businesses add to the community’s cultural fabric. They provide a sense of place, creating distinctive and rich spaces where people can gather. When entrepreneurs build businesses rooted in local culture, they help preserve and promote that culture, making the community a more attractive place to live and visit.

Support Small During National Entrepreneurship Month

There are many opportunities to support local entrepreneurs in your community this month, including Women’s Entrepreneurship Day (November 15), Global Entrepreneurship Week (November 18 – 24), and Small Business Saturday (November 30). Looking for additional resources to get started? Check out our small business support page >

Entrepreneurship is more than just creating new businesses — it is a driving force for community pride, economic development, and cultural enrichment. By fostering an environment that supports entrepreneurship, communities can build more resilient economies, enhance the quality of life for residents, and create a strong sense of identity and pride.