Description:
Financial services encompass banking, financial planning, insurance, and other services related to managing and securing financial resources for individuals and businesses.
Examples:
– Local Banks and Credit Unions: Providing banking services.
– Financial Advisory Firms: Offering investment and financial planning advice.
– Insurance Agencies: Providing coverage for various risks.
Typical Minimal Size of Population Served to be Viable:
A small city with a population of around 8,000 to 12,000 may support basic financial services, while a population of 15,000 or more allows for a more robust and diversified financial sector.