Why support startups?

This is one of the questions that I asked myself when developing Launch List. Why would people come to the site to support startup businesses? Why not just purchase of established businesses? By talking to customers, clients, business owners, employees and people within the community I found the following answers –

Economic Benefits

Obviously if a business owner is successful, they will have more money. More money means they can spend more in their community creating a roll-on effect. With a business becoming more successful, more jobs are created, lowering local unemployment rates. With more money in the coffer’s, businesses are able to sponsor local events/teams and volunteer their services. There is research that shows poverty levels are also lifted within the community with successful businesses.

Business Confidence

When people see other people having a successful startup it encourages potential entrepreneurs to have the confidence to start their own business. With confidence up, an overall feeling of a prosperous future is created.

Vibrant Community

New brick and mortar businesses require shop fronts. With these filled, the community feels alive. People are encouraged to walk the pavement and go shopping. Empty shops have a very negative impact.

Sharing of Knowledge/Ideas

The startup community share ideas and talk with each other. I was pleasantly surprised when I got caught up in the startup scene how positive everyone was. People are willing to help and support new business ideas. This not only has a positive business effect but also a positive social effect. People start meeting and connecting on different levels which has a positive spin off for communities.

Competition

New businesses challenge the status quo. They make other businesses change for the better to remain competitive. This will mean better service, product or price offered to the consumer. It keeps businesses on their toes.

A successful startup creates a positive impact on local communities both financially, socially and environmentally  – so let’s support the businesses on Launch List!

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