Small businesses are the heartbeat of most rural Arkansas communities. Awareness of the economic impact of small business – from the number of jobs created to the tax revenues generated – has prompted local organizations to take a look at ways to promote and support the small businesses in their communities.
Cammie Hambrice, executive director of the Magnolia Economic Development Corporation, initiated a “Live Like a Local” campaign for the city. The campaign aim is to encourage Magnolia residents to invest, volunteer, and shop locally.
The motivation for the campaign began when Magnolia’s downtown square found itself with seven empty buildings, something that had never happened. “The Square is what sets Magnolia apart from other communities our size. It’s a shopping destination, and we felt like it was now on life support,” said Hambrice.
Hambrice and Ellie Baker, director of the Magnolia-Columbia County Chamber of Commerce, decided to visit businesses within a 30-mile radius that they felt would be a good fit for the Square and invite them to expand in Magnolia. The second part of the strategy involved having conversations with the building owners about lease concessions or selling their property.
The Magnolia Square now has six new businesses and $1.2 million of new investment in the downtown.
To attract visitors and advertise the goods and services of local merchants, Baker and the chamber host regular events on the Square.
Some of the annual events are the Magnolia Blossom Festival and World Championship Steak Cook-off, Downtown Merchants Fall Festival, and Merrytime in Magnolia.
On Small Business Saturday in November, the chamber and the Arkansas Small Business and Technology Development Center from Southern Arkansas University were on the Square to encourage the community to “Shop Small.”
Initiatives such as Live Like a Local are one example of a successful cooperative community-focused effort. Some other ways community organizations can support small businesses:
- Establish a dialogue with local business owners. Solutions to local challenges often come from local people.
- Host events for business owners to network with each other. Use these events to encourage business partnering as a way to cross-promote goods and services.
- Organize a community event to promote businesses and attract shoppers. Small Business Saturday, always the Saturday after Thanksgiving, is an excellent time for such an event.
- Create a guide and map to local small businesses – in print and online.
- Partner with your local ASBTDC office. One way we can help is to educate the community on the value of social media and online marketing.
- Encourage customers to leave reviews and check in on social media when visiting local establishments. Share small business content on social media and encourage businesses to advertise new products and services and explore the benefits of e-commerce.