Many Nosara small businesses worry about competition. We live in such a small place with so many yoga studios, so many surfing gurus, so many restaurants. But doesn’t competition spawn more business?
Take, for example Hay-on-Wye in the countryside of Wales, waaaay off the beaten track of visitors. Sixty years ago it had one bookshop; then three; then ten; then three dozen, becoming Booktown. While the used and antiquarian book business has generally declined in the face of the digital revolution, there are still 25 booksellers in Hay-on-Wye forming the backbone of this long-standing tourism town. Their book festival draws 80,000 bibliophiles every June.
Competition is the wellspring of innovation, creativity and the critical mass necessary to provide choices within a theme. To learn more about competition, innovation and tourism, read Bill Barnett’ on Competition, a blog from Stanford University School of Business.