Without small businesses, the U.S. economy would not be where it is today. These ventures are crucial to the overall financial success of the country, and without them, communities would have a much harder time becoming sustainable.

With that in mind, a new report released by the National League of Cities stressed the importance of resources and business-friendly tools to help bolster both small businesses and local economies. Thanks to an all-around focus on growth, these companies will have an increased likelihood of success.

Focus should be placed on small businesses
The National League of Cities report, titled "Big Ideas for Small Business," placed the responsibility on local governments to foster development and encourage growth for these startups.

"Small businesses are an integral part of every community, and are responsible for roughly half the nation's economic output," said National League of Cities president Chris Coleman, who is also the mayor of Saint Paul, Minnesota. "This new report on 'Big Ideas for Small Business' shows that local leaders are in a unique position to create a small business ecosystem that connects entrepreneurs with city resources, including funding opportunities, streamlined regulations and technical assistance. Cities across the country understand that for small businesses to be successful in the long-term, it is critical that they have the support of communities and local leaders."

In the report, potential initiatives to support small businesses included streamlined regulations, incubator spaces to speed up growth and improved access to funding, like commercial loans.

Create leadership throughout a business
In order for a small business to succeed, leadership has to be created on all levels of the venture. Without strong, motivated employees, it will be much harder for the company to grow and prosper.

According to Entrepreneur magazine, this can be achieved in several ways. For example, business owners should provide opportunities for others to take charge. This can happen on a small scale, such as leading a project or a group task. Better yet, this time is the ideal chance to evaluate talent and determine which employees are most productive.

Above all else, the small business should be designed to encourage collaboration, the news source noted. No employees should be afraid to contribute thoughts and ideas. A weekly meeting can help with that, so team members can get together and discuss problems and concerns that are facing the company.