Small businesses are pretty much present in most rural communities, and they tend to play a vital role in the economy. These however are worlds apart compared to their bigger counterparts scattered in the community.
Recently, Covid has done an impact to the world’s economy, small businesses are no exception to this problem.
That being said, here are some points as to why we should promote, support, and shop at our small and local businesses.
Promoting, Supporting Small and Local Businesses can…
1. Encourage Local Economies
By shopping and supporting small local businesses, in return you cycle the money back into your community. Though it is tempting to shop at large chain stores, we still can’t disregard the many positives to buying local for your community and your wallet.
The local government is funded by the sales taxes collected from local businesses. The money is subsequently reinvested back into the neighborhood. However, local governments frequently grant tax incentives to big box retailers while not doing the same for neighborhood shops. Local communities won’t gain anything by deciding to put money into a big box business elsewhere.
2. Minimize Your Carbon Footprint
Local businesses tend to make purchases in local shops, thus reducing transportation. Furthermore, because they are located in a city or town, it will typically result in less traffic, habitat degradation, and resource depletion.
3. Increase Employment
According to the Small Business Administration: “The 2019 Small Business Profiles show that small businesses added 1.8 million net new jobs in the United States during the latest year studied. The United States has 30.7 million small businesses, and they employ 47.3 percent of the private workforce.”
A classic case of cause and effect: more local businesses, more people getting employed. The local economy would improve as a result of opening up employment opportunities especially if you shop at small businesses.
4. Contribute To Your Local Community
Local Businesses thrive out of a strong and supportive community, therefore the owners would be active and approachable individuals themselves.
A positive of giving back locally is created when small businesses donate 250% more to local nonprofits and community causes. This includes neighborhood service organizations, youth organizations, local service groups, and more.
5. Better Customer Service
Every purchase, contract, and favorable review matters to a small business owner. The survival of small-town business owners depends on your satisfaction because they cherish each and every one of their clients.
An overall positive experience results from employees taking the time to get to know their clients and consumers. Additionally, you can be sure that you won’t be discussing your dilemma with a robot if you do have one.
6. Foster Growth And Innovation
When diving into the business world, you’d end up floundering trying to look for ways to keep your small business afloat. With rivals at every corner you look, it’s still a constant fight for survival for who comes at top.
This kind of pressure will allow owners to become more innovative — generating ideas that gives them an edge in the competition.
7. Support The Dream
This means equality of opportunity should be given to everyone, allowing them to achieve their highest individual aspirations and goals.
By supporting small businesses, you are helping people who have put their passion ahead of convenience in the business they are running
It’s more important than ever to inspire both friends and strangers to shop locally, think internationally, support, and shop at small businesses in order to help create a better future.