Yes, community radio is good for democracy. It allows common people (meaning not celebrities, politicians or public figure) to get their voices out there. There's a good and a bad side, because some people express hateful speech. But that's a part of democracy. People have the right to express themselves, and people have the right to disagree or agree.
Community radio and any kind of talk radio is good for democracy. These types of radio stations allow people to voice their opinions on politics and other issues. Even if sometimes the policies are a little extreme everyone has a write to express themselves. An open dialog and a variety of opinions is a key aspect of a democratic nation, and help the public to be heard by the government.
I agree that large corporations own radio stations and television which limits our freedom of speech. Community Radio is cheap, and the individual does not have the same guidelines as public radio. Community radio is not censored, so the first amendment is not control by big business. The more we break away of corporate America, the better off we will be!
In these days of corporate owned radio stations, companies like Clear Channel can control the messages and limit expression. Community radio (and television) stations are an important outlet for free speech and creativity. The costs associated with these endeavors is minor, and their benefits are large. A large chunk of society still listens to public radio and gets news and cultural awareness through the medium.