Hyperlocal (adjective) relating to or focused on a very small geographical community.
Although this buzzword is relatively new, the concept of hyperlocal has been around forever. In the past, we lived our lives in our local neighborhoods. We communicated our ideas, goods, and services first by word-of-mouth, then in print, then via radio and television.
But with the exponential growth of technology, our world has become more globally connected. This is wonderful, but it also creates a lot of noise. Perhaps that’s why people are getting back to their roots and re-discovering the advantages of engaging in their own local communities.
We think investing locally is a perfect example of this. Here’s why.
Hyperlocal investors are informed investors
Investors who live locally know what they’re getting into. Their local knowledge and familiarity with the area gives them a far better insight into an investment than anyone else could have. They can measure its worth against their own experiences.
Word of mouth works
If your project focuses on the local community and the concerns of the people living there, this will encourage hyperlocal investment. Neighbors chat over the fence or on the street, and word of mouth spreads pretty fast!
Local capital stays local
This is becoming more popular as evidenced by a growing number of investment groups or micro-lenders with a hyperlocal focus.
Locals see community as a partnership
People are 2.5 times more alert when they’re out and about. So they will see local advertising. Locals see community as a partnership, so if it’s relevant or can be seen as a part of the local community, a loyal and passionate customer base will follow.
You can make a difference
Investing in a local project can improve your community. The advantage of hyperlocal investment is that it gives the opportunity for a unique and personalized environment. In a way, you might even be helping to choose your new neighbors.
Looking for a local investment? Small Change makes it easy to invest and might just have a project in your neighborhood soon.