I learned an interesting statistic a few weeks ago – in 2018 three out of every 1000 people in America started a business. These three are the entrepreneurs, the risk takers, the innovators, the trailblazers.
Places like Searcy and other towns featured in Main Street Revolution are testament to the fact that small business is necessary for rural America to survive.
Small businesses can’t survive by themselves. They need a support system, business friendly regulations, sources for alternative funding, a community that shops in their stores, uses their services, and, most importantly, fosters an attitude of innovation (including accepting failure).
This means that out of every 1000 people, 997 are the support system for the three. Together, the 1000 are the ecosystem.
Each of us has a responsibility to help those small businesses prosper. If we want Cabot to be the best it can be we need to think of our community as an entrepreneurial ecosystem. We need to be an environment which allows an entrepreneur to thrive.
When we visit Brew YaYa, we are helping Barry live his dream. When we eat at Pea Farm Bistro, we’re helping Andrea and Justin expand into a bigger space. When we update our wardrobe at The Humble Thread, we’re helping Amy support her boys. When we purchase olive oil and balsamics at Squizito, we’re helping Jennifer grow her business. Shopping local directly impacts each owner’s family. Staying local also creates jobs, establishes community, and attracts attention.
An entrepreneurial ecosystem is an entire community deciding with intention to foster a spirit of innovation, and it starts with the 997 supporting and shopping locally.
We are Cabot.