Family is a big part of life for community oriented business owners (COBOs). According to small business management columnist Gene Marks, writing for the Huffington Post, a key way to build a strong community of entrepreneurs and startups is to have a high-quality school system.
"If you want to turn any city into a great city to live and do business then all you have to do is focus on one area: Education," Marks writes. "(People) want their kids to do better than them, to go on to college, to be educated. Educated people succeed more in life than non-educated people."
In addition to being focused on their families, COBOs are also running companies. They can benefit from good school systems in that respect as well, because high-performing school districts produce more skilled graduates who can then be placed into the small business workforce.
A recent Gallup poll revealed that 71 percent of small business owners are reticent to hire because they're worried their revenues or sales won't justify adding employees. To set up a financial plan that leaves room for workforce expansion, drop into your local My Bank and talk to a financial services adviser.