How Can I Support Local Businesses?
How Can I Get Capital to Keep My Business Afloat?
How Will I Recover After an Interruption in Revenue?
How Can I Support My Local Economy Generally?
These are always important questions to ask. Right now, they’re especially important. At NC3, we stand with the entrepreneurs and small business owners around the country impacted by the COVID-19 pandemic. And we stand with all the people who want to help the businesses in their communities weather the storm that’s upon us – and lay a foundation for rebuilding after it has passed.
Our vision of healthy community economics is largely one of grassroots collaboration, of resource sharing and working together to support the enterprises that make our communities vital and special. Right now it’s hard to collaborate in some of the ways we’re accustomed, and it’s hard to support some of our favorite local enterprises in many of the ways we usually do. But we can still come together. And while we may be unable at the moment to conduct business as usual, there are certainly still ways to buy and sell goods and services locally. And of course above and beyond supporting local businesses as consumers, there are ways to support local businesses with investment dollars.
We hope that whether you’re a small business owner, an actively engaged investor, a finance or economic development professional, or simply a committed community member, you’re exploring creative ways to engage with your community and participate in supporting your local economy. Perhaps by convening your customer base or local network virtually? Maybe by making a direct investment in a local business through an online crowdfunding portal? Perhaps by committing some funds to a community-oriented credit union or community bank that’ll circulate those dollars locally? Maybe by investing in a community loan fund? Or perhaps by launching a Community Investment Fund?
(Expect to see more from us soon about ways you can support the implementation of a Community Investment Fund in your community – and in the meantime we hope you’ll read our recent publication, Community Investment Funds: A How-To Guide for Building Local Wealth, Equity, and Justice, which you can access on our website by clicking here.)