Local Community - GCSE Business Definition

A Local Community is a group of people living or operating in a particular area or neighbourhood who share common interests or values. This community plays a significant role in shaping the business environment, as it includes potential customers, employees, and suppliers. Local businesses often contribute to the community through job creation, supporting local events, and purchasing from nearby suppliers. In return, they benefit from customer loyalty and a better understanding of local market needs. Understanding the dynamics of a local community is crucial for businesses to build strong relationships and operate successfully within their area.