The Economic Benefits Of Investing Locally


Supporting your local economy by investing can be very beneficial for your business and also for the community itself. Local communities are bursting with potential if you know the right place to look, so it makes sense to invest. Larger companies can benefit by investing in smaller complimentary businesses, and the smaller businesses can benefit from the support of the larger ones.

Here are the specifics on why we think investing locally can be beneficial…

Local Knowledge

Who knows the community better than someone who has lived and worked in it for an extended period of time? Local construction companies know the right places to go for the best deals. They probably have relationships with local suppliers that mean they get preferential access to materials and alerts on new stock. They will also have great relationships with the local trades, making collaboration on projects as easy as picking up the phone.

These relationships mean that projects get completed quicker, by a quality team and can end up saving you money. Local knowledge is invaluable for getting the job done – larger companies would be silly to miss out on this knowledge potential.

Supply Chains

You want your supply chain to be as short as possible. This minimises time delays for delivery and the cost of transport. You don’t want to be trucking or railing supplies from halfway across the country if you don’t have to!

If you can source everything for a project locally, then the project will be cheaper and completed quicker. You won’t be able to source supplies locally without a local relationship though, which is why local investment is beneficial.

Opportunity

Every town will have youths ready to leave school and move onto the next step in their lives. That next step could be an apprenticeship. By providing them an opportunity with your company, they are also providing you with some benefits. Youths are not jaded by years of working, so they come with dedication, a desire to prove themselves and a fresh approach.

Investing in the local youth will not only provide them individual opportunity, but you will also be providing opportunity for the town by creating tradespeople of the future.

The Extra Mile

There is a lot that can be said for the extra effort that goes in when you know the person you are working or building for. So, chances are the local staff will have a connection to the person whose build it is. This fires the passion of a local community.

They will work as hard as they can to build Mr Smith’s shop, upgrade the local church, or create that dream home for Mrs Jones. People are proud of their community, so you can use that to your advantage. Passion and dedication will guarantee a job well done.

Encourage Growth

If you are using their services, the small and medium local businesses will have a chance to grow. Growth of their business can benefit your long term relationship, as they will be more equipped to assist you with ongoing projects.

In the construction trade, it is scary to use a business that you know nothing about. So if you build a good relationship with a good team, then it can only mean good things in the long run! You grow your network, the local economy grows stronger – everybody wins!

Networking can be a fantastic way to grow your business. Having trusted local partners will mean that you can work in those areas with confidence. Not only that, but you can save money, time and effort by using the well-established local resources. Investing locally seems like a pretty good idea now, am I right?