How Your Investment in a Small Business Can Influence Your Neighborhood
One of the great things about investing in local businesses are the impacts that your investment can make on your community. If you’re lucky enough to find a small business crowdfunding on Honeycomb that’s in your neighborhood, the rewards of investing can go far beyond the return in your pocket*, and make your community a better place. Here’s how:
Your investment in a small business can create jobs
When a small business grows, often they need to hire employees to keep up with increasing demand, and so they create new opportunities for employment in their communities. Whether it’s servers in a restaurant, workers on a small organic farm, or experienced jewelers in a jewelry store, new jobs mean more money circulating in your local economy and more people being able to support themselves and their families.
Since our founding in 2017, Honeycomb has supported over 541 jobs in small businesses across the country.
The small business you invest in can be an asset to your community
Who doesn’t like to have a new boutique in town, or a local watering hole to call “their spot?” Small businesses make our towns more vibrant places through the food they serve, the products they sell, and the services they provide.
Also, many small businesses also incorporate charitable elements into their work, hosting fundraisers, sponsoring little league teams, or donating a portion of their sales to causes they care about. For example, Honeycomb alum Pip and Lola’s gives a bar of their soap to local domestic violence shelters for every two items they sell!
Your investment has the power to vote for the small businesses you want in your community
When you invest in a local small business, you’re essentially voting for the kinds of small businesses you want to see in your community! In a macro sense, you’re voting for small businesses and against big-box corporations sucking up the culture of your hometown.
If you dig a bit deeper, you also get to invest in small businesses whose values align with yours - that’s the beauty of impact investing. If you’re committed to supporting the environment, you can invest in businesses that are sustainability friendly. If you want to empower minority and women-owned businesses, you can find entrepreneurs of all stripes on the Honeycomb platform who you can invest in.
Build up your community and your wallet with small business investments
*Disclaimer: this article is for educational purposes only and should not be taken as investment advice. Investing is inherently risky and investors should be prepared to lose some or all of their principal investment.