Smaller markets may bring more loyal customer base, better work-life balance
While a big city may seem like the most logical place for starting a small business, thanks to larger populations and myriad business resources, entrepreneurs may find that setting up shop in a smaller market may actually provide more opportunities for small business growth.
Small towns - and consequently smaller markets - provide many benefits for entrepreneurs, such as a loyal customer base and a more balanced work life, Barbara Taylor wrote for the New York Times small business blog.
A small-town business may provide a better work-life balance, Taylor reported, because customers are more forgiving and the pace is slower than in the city.
"My customers don't expect me to be behind the counter every time they walk in," Geneva Currin, who owns a small floral shop in Northwest Arkansas, told Taylor. "In a small town, they'll let you close on Sundays."
However, running a small business in a small town is not totally picturesque - the cost of goods can be higher, and it can be more difficult to set up domestic or international deliveries if the town is far away from a major airport, Taylor reported.
Yet the work-life balance aspect is nothing to scoff at - the Wall Street Journal recently advised small business owners to prioritize their mental and physical health due to the demands of the entrepreneurial life.
