Only until very recently in the annals of human commerce have we become globally integrated; for most of human history, all businesses were local businesses.

Advantages of being local
Such a model has obvious advantages and a disadvantage, being local means you can tailor your reaction to an individual need a lot more accurately than the usual company which considers you an area on the map. At the same time the trust you can develop with your web visitors can't be matched by non-local competitors. Each day you are an integral part of their lives you might even frequent the same pubs or share similar recreational interests. Being local also helps lower your response time for almost any urgent or time critical job. Where time is a problem, nothing can match a nearby business.

Disadvantages
The key disadvantages those businesses face when compared with their non-local competitors is just a matter of resources available. Most non local competitors to the businesses are normally larger and have significantly more resources; both with regards to physical plant machinery material but additionally with regards to human resources. Being larger with a wider part of opportunities and with a lot more income it indicates they could defray the expenses of operation over a more substantial quantity of contracts. Local businesses also lack the same ability to tap the international markets both as a source for sales but additionally as a source for suppliers. Thus they're incapable of take advantage of any cost saving from tapping the international supplier base.

Significance of local business
The significance of having a powerful local business can't be over stated, for it's these small to medium enterprises which can be now providing the majority of new employment opportunities. They are also the people paying local taxes, and paying local wages. All of which stimulates the area economy and provides alone more opportunities for growth. If an area's local businesses go under or close down for whatever reason, the consequence is observed very quickly with the rapid development of a post-industrial wasteland Québec. This further pushes away other businesses and thus triggering a viscous cycle to a point where the population starts to go away, thus tearing the heart out from the local community.

Keeping it local
Many local businesses often fail to take advantage of the truth that they're local. Being local means that you are part and parcel of the area scene and you understand a lot more about the area economy than any outsider could. You can also vary your demands for payments to incorporate barter where as opposed to cash you can offer and except goods and services for your or others payment. Being the main local economy of your area can be a great boon for your company if you should be willing to think outside the box, take risks and leverage the local knowledge to the benefit of your business.