How can communities improve the local economy?
I can explain what businesses make up my local economy and how small businesses contribute to the local economy.
How can communities improve the local economy?
I can explain what businesses make up my local economy and how small businesses contribute to the local economy.
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Lesson details
Key learning points
- Local economies include businesses like shops, financial institutions and social enterprises that support growth.
- Markets and credit unions help local people by providing goods, services and financial support.
- Small businesses create jobs, drive innovation and keep money circulating locally.
- Taxes from businesses fund public services like schools, healthcare and transport.
- Small businesses also support communities through charity, events and local investment.
Keywords
Local economy - all business activity and wealth creation in a specific area, town or community
Small business - independently owned companies that contribute to local employment and the local economy; they contain 0-49 employees
Common misconception
Only large businesses contribute to the local economy.
Small businesses also play a crucial role in job creation, local investment and community development. They generate employment, keep money circulating within the community and contribute significantly through taxation.
To help you plan your year 11 citizenship lesson on: How can communities improve the local economy?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 11 citizenship lesson on: How can communities improve the local economy?, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
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The assessment exit quiz will test your pupils' understanding of the key learning points.
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Explore more key stage 4 citizenship lessons from the How can the local economy support sustainability? unit, dive into the full secondary citizenship curriculum, or learn more about lesson planning.
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Starter quiz
6 Questions
affects business rates and job creation
helps businesses and workers access opportunities
support a productive and skilled workforce
Exit quiz
6 Questions
all business activity and wealth creation in a specific area
independently owned companies that contribute to the local economy
money collected from citizens to fund public services
the number of people who have jobs in a community
provide local people with access to goods and financial support.
jobs, helping to reduce unemployment and improve economic stability.
help fund essential services like schools, healthcare and transport.
often reinvest in the community through sponsorships and events.