How We Use our Product to Boost the Local Economy and Inspire Careers
Entrepreneurs create businesses, and new businesses create jobs, strengthen market competition, and increase productivity. According to traditional models, entrepreneurs Create new businesses in response to unmet needs and demands in the market. There is an opportunity to provide a product or service that is not currently in existence or otherwise available.
Recently, we were approached by a filmmaker to use our apartments to shoot a short film in the historical location of Rochester Kent. It was a no-brainer for us because it helps showcase the Garden of England and the amazing sites across the county.
The ability to turn ideas into new products and services that people need is the fount of prosperity for any developed country. Economic growth is driven by new technologies and their creative applications.
Secondly, yes, we must make a profit, but if our product can help give a local kid a career in the film industry then we would be delighted to have played a part.
Local businesses tend to support other local businesses. Many times, a localized company will deliberately patronize other local businesses to create a thriving local economy. However, it is important to understand that entrepreneurship and innovation are dependent on access and participation.