Using the Communities to Expand Your Business

Enterprise construction and development are always a difficult process, particularly for SMEs. However, mobilizing the strength of the community resources can be very useful; bringing in to the mix, resources, networks, and opportunities that can lift your business to the next level. Whether you are fresh in business or have been in it for a while, the use of local resources can help in growth, development of partnerships and lead to sustainable business practice. Fellowship Business Minds operates based on the fact that the strength of the cord is the number of strands it consists of and in this case the strands are the members of a faith based business community.

Networking and Relationships in Business

It is important for the development of business to work and build relationships within the local community. Business groups such as chambers of commerce, business associations and community organizations organize business networking sessions to help you meet other business persons, and potential clients among other things. These networks can be effective in disseminating information, getting information on new developments within available sectors, and potentially finding organizations with whom you share similar goals and missions to partner with on implementation of projects.

Religious population can be very strong compared with other types of populations due to the faith that is always associated with such populations. These circles comprise of like-minded and like-hearted people who will be willing to support a purposeful business idea out of an entrepreneur.

Tip: It is important that you should set your time on attending different networking meetings in your locality and build your professional connections with other business people and leaders in the society. By linking up with likeminded organizations, your business can end up benefiting from partnership.

Local Human Resources and Workforce Training

Your community is a pool of qualified workforce, whether fresh graduates joining the workforce, middle or upper employees seeking new opportunities. This means that by working with universities, colleges and vocational training institutions, you can be able to access this talent. Extending internships or apprenticeship programs not only serves your company with new ideas and enthusiasm, but also serves the public by offering them job training.

Moreover, local community development agencies provide programs that may help businesses to access workforce development services. These programs can assist you in searching for well qualified employees, training employees while on the job or obtaining wage subsidies.

Tip: Establish good rapport with schools and universities and look for possibilities of internships, apprenticeship or seminar and workshop arrangements. This will come with talent acquisition but will also portray your business as a community stake holder willing to contribute to its development.

Access to Financial Support

Businesses need financial support from the communities in order to expand. Such resources include, grant funding, loans and micro financing especially for new companies as well as social businesses. Local economic development councils, community banks and nonprofit organizations often provide cheap finance or sometimes even free money to businesses that have been approved for development.

Other funding may also be gotten from faith-based organizations, through their funding networks. These can include from the angel investors seeking to back noble causes to crowdfunding initiatives backed by people of faith.

Tip: Investigate financial organizations in the area, state, and federal agencies, and religious organizations that provide funding. Quite often, there are grants for companies that are involved in the process of community welfare, environmental protection, or other worthy causes.

Conclusion

These are some of the most valuable resources you can rely on to expand your business and do it sustainably. Through networking, talent, funding, marketing channels and partnership, your business can grow and be socially responsible at the same time. At Fellowship Business Minds, we guide the business people to employ the unique solutions within the communities and also incorporate the religious beliefs in operations. Together, we can create better businesses and a better future for all.

Want to discuss this more? Contact us here!