USA Today– When you think of businesses in the same space, you think competition, right? Business, no matter what kind, is often competitive. But for small businesses and entrepreneurs, mutual uplifting is vital.
John Childress, president of Childress Business Consulting who often mentors early-stage entrepreneurs, echoed Nguyen’s point.
“Because most small businesses don’t have the resources to do everything on their own, they often rely on other small businesses for help and/or for collaboration,” Childress said.
But boosting each other’s brands is something that’s become more prevalent in recent years, Childress continued, noting the trend isn’t just because of challenges such as the COVID-19 pandemic.
“Today’s new entrepreneurs are not from the ‘Wall Street’ Gordon Gecko ‘Greed is Good’ mentality that most entrepreneurs were raised in decades ago,” Childress said. “Most of today’s entrepreneurs care about more than the bottom line; they want to make money while helping the community and environment, not hurting it.”
Terri Maxwell, CEO of business growth community Shift/Co, agreed: For small businesses, making money and doing good “aren’t at odds like they are in most corporations.”
Small business community boosts more than business success
It goes beyond fiscal success, though, according to Gwen Beloti, owner of Gwen Beloti Collection, who said it’s part of her business’ “mission” to support others.