The importance of having a business right in the comfort of our homes or community could probably be one of the best things that could happen to us in the objective of gaining economic progress. For instance, community businesses in the local community are an application of our society’s concept of progress. It is here, that we learn to apply the theories that we know and put it into good use.
Community businesses are usually of low risks because of the financial resource may depend on the type of business as well as depending on how the person would be able to allocate his or her finances in the most efficient manner (Kotler, 2003). It is also here that we learn how hard money is to find. Having a business right in our backyard could gauge in a thought of austerity as well ourselves could be able to learn the ins and outs of money making. As they say, we only begin to appreciate things only of two reasons: first, we gain economic growth through the increased consumer spending. It is through such a likeability of terms that the business venture that we undertake would eventually be successful. At first it
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This happens as we establish local business, we thereby encourage consumption growth. This consumption thereby endorses the increase of cash flow as well as profitability in the market. The higher the cash flow in the system, monetary agencies such as the federal Reserve would raise interest rates so as to urge the people to save their money in banks and vice versa. Once we achieve such goal, we also affect the economy, in our own small way. It is also in this form of consumption that we tend to affect cash flow.
Kotler, P. (2003). Marketing Management: Prentice Hall.