Pay It Forward: Local Businesses Can Help Each Other

The power of small businesses is immense. However, starting a small business is no easy venture. The financial resource Fortunly states that roughly 22 percent of small businesses will fail in their first year of operation. Thirty percent fail because they run out of cash. One of the ways a small business can do better is to utilize the support of other local businesses.

Business owners often conduct market research to identify who their competition is and to determine if there is room in the market for their products or services. It’s just as important for established business owners to keep...