Companies pursue business models based on the target customer, pay structures, marketing efficiency and similar driving forces. There are reasons why companies and corporations spend large sums of their income, sometimes billions, to promote their products and services to consumers. There are compelling financial needs that force a global company to sponsor a local soccer team or a school club, or a community event. They all want to build a reliable market for themselves. However, these large corporations rarely invest in local economies besides that which is necessary, like building local branch for their business and hiring locals to work there. But that kind of investment rarely make up for the harm global corporations do to the economies of local communities and the environment.

The 2020 pandemic showed that local economies are more reliable and more sustainable. Your local farmers from whom you used to get the food the grow from the town’s farmers market may opted to drop off the products at your doorstep during the lockdowns. The cost did not fluctuate due to added costs of transportation and supply-chain problems. And the goods you received did travel thousands of miles to get to you.

Local economies and community-based businesses are good under all circumstances, we only recognize their value during crisis times. We all need to do better and promote local community-based businesses even through global channels, like LEKEF.com Platform.

Because the community-based businesses rely extensively on some sort of “community” to find customers and create revenues. Shared resources and inclusive Platforms like this help with this task without adding cost to local businesses. More, it creates the connections that is needed for collaboration and solidarity among likeminded producers and creators.

Community-based entities use business to improve the life of a community. They are different from private or corporate enterprises because their business activity is undertaken as a means of adding to the community wellbeing, not just private gain. They connect their success to the health and wellbeing of the community they serve.

Community based businesses are socially and environmentally responsible, where they are driven by the desire to reinvest in the community in order strengthen it, which they know will eventually strengthen their business. Community based business models are people centered, where collaboration, partnership, advocacy, and co-creation are top values.

Community-based businesses can be any type of business that trades products and services and run by local people for the benefit of the local community. There’s a growing movement of communities taking back control of their local areas through business.

The ideals and values many of us hold about community-based enterprises must be a driving force behind all that we do to actualize and realize these values and ideals in the real world. Join in, every step can make a difference. Take a look at LEKEF.com’s Index of Community-Based Entities and support or add yours or your favorite.