Does your Chapter have the necessary components for creating community wealth and growth?

How can a Chapter House approach and work to generate wealth and foster growth in the community? An economic development strategy or plan is an important tool for chapter house leaders to plan and track progress towards goals to retain wealth within the community and build community assets. While there are many aspects to economic development, we’re focusing specifically on what Chapters can do to enable the startup and growth of Navajo small businesses. 

There are multiple economic factors that affect the business environment and influence the attractiveness and sustainability of businesses that set up operations in the economy. An economic environment is “healthy” when it provides opportunity for all business types and is welcoming to entrepreneurs and small businesses.  A local economy is necessary so individuals can improve the economic stability, health, and well-being of themselves and the entire communities. 

The factors affecting the local economy include, but are not limited to:

• Tax rates 

• Inflation

• Labor

• Supply and demand

• Wages

• Policies