Factors For Strengthening Cooperation Between Small Businesses And Community Institutions
Keywords:
Small business cooperation, Community institutions, Local economic development, Social capital, Public-private partnerships, Stakeholder engagement.Abstract
This study investigates the critical factors that strengthen cooperation between small businesses and community institutions, a relationship often lauded for its potential to drive local economic development and enhance social capital. Despite the recognized benefits of such partnerships, effective and sustained collaboration remains a significant challenge. Employing a mixed-methods research design, this study surveyed 150 small business owners and 50 community institution leaders, followed by semi-structured interviews with a select group of participants. The findings reveal that key factors for successful cooperation include a foundation of mutual trust, the establishment of clear and consistent communication channels, the presence of a shared vision, and a fair distribution of tangible and intangible benefits. The results provide valuable insights for policymakers and community leaders aiming to cultivate robust, resilient local ecosystems by bridging the gap between the private and public sectors.
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