- Maryrose
- Oct 08, 2025
How Collaboration Strengthens the Local Business Ecosystem
In every thriving community, there’s a network of small businesses, organizations, and partners working together, not just to succeed individually, but to lift each other up. Collaboration is the backbone of a healthy business ecosystem. When small businesses connect and share resources, the entire community grows stronger, more innovative, and more resilient.
At Equitable Development Action (EDACT), we’ve seen firsthand how partnerships can transform possibilities into progress. Our work with small business owners, financial institutions, and community organizations continues to show that when entrepreneurs collaborate, everyone wins.
Why Collaboration Matters
Running a business can be demanding, especially for entrepreneurs juggling multiple roles, marketer, manager, accountant, and visionary all at once. But the truth is, no one grows alone. When small business owners build collaborative relationships, they open the door to:
1. Shared Knowledge and Resources
Every entrepreneur has something to offer, experience, tools, or insights. Collaboration allows businesses to share resources, saving costs while expanding their capabilities. For example, one business may have marketing expertise, while another offers financial insight. Together, they create mutual value that helps both grow faster.
2. Expanded Customer Reach
Partnerships often bring exposure to new audiences. Imagine a local catering service partnering with an event décor business, both benefit by offering bundled services to the same clients. Collaboration allows small businesses to cross-promote and expand their visibility without large advertising budgets.
3. Stronger Community Impact
When local businesses work together, they don’t just strengthen their operations — they strengthen their neighborhoods. They create jobs, inspire new entrepreneurs, and keep local economies thriving. Each collaboration builds trust and unity, helping to create communities that are self-sustaining and inclusive.
4. Increased Innovation
Great ideas are rarely born in isolation. Through collaboration, entrepreneurs exchange perspectives that spark creativity and innovation. By learning from each other, they develop better solutions, improve their products, and adapt more effectively to market changes.
Collaboration in Action: The EDACT Approach
At EDACT, collaboration is not just a value, it’s part of our mission. Through our Small Business Support Programs and Technical Assistance, we connect entrepreneurs to the resources, mentorship, and partners they need to thrive.
Our partnerships with financial institutions like Stearns Bank show how collaboration bridges the gap between business owners and capital access. Similarly, our relationship with community organizations such as ACER helps bring culturally responsive support to underserved entrepreneurs.
The upcoming Small Business Open House & Networking Exhibition embodies this collaborative spirit. The event brings together local businesses, financial partners, and community leaders for one purpose — to build stronger, more connected pathways to growth.
What Collaboration Looks Like at the Open House
This year’s Open House will feature a dynamic mix of small business exhibitors, financial providers, and development partners, all sharing ideas and opportunities for growth.
- Local Businesses like AMP Business Coaching & Consulting, LovelyTouchEventsDecor, Zion Sol Haus, The Divine Beauty Co LLC, Crystal Quartz Cleaning, Neomie Events & Decor Services, and Synchrony Bodyworks will showcase their products and services.
- Community Partners such as ACER will share resources to support grassroots business development.
- Financial Providers like Stearns Bank will be available for direct one-on-one conversations to explore funding options.
More than just a showcase, this event is a living example of collaboration, where entrepreneurs meet banks, where businesses meet customers, and where community partners come together to support shared growth.
Be Part of the Movement
If you believe in the power of collaboration, this event is where it begins. Join us at the EDACT Small Business Open House & Networking Exhibition to experience firsthand how partnership can accelerate your business success.
You’ll connect with fellow entrepreneurs, gain access to funding insights, and discover new opportunities to collaborate and grow within your local ecosystem.
Date: Thursday, October 16, 2025
Time: 5:00 PM – 7:00 PM
Venue: Brooklyn Park Small Business Center, 7970 Brooklyn Blvd, Brooklyn Park, MN 55445
Reserve your spot today: