Why Supporting Local Businesses is a Good Thing
It’s the small pieces that make up the big picture…
Did you know that small businesses are the largest employer nationally? That they’re more innovative than large businesses, with sixteen times more patents per employee? That more than 500,000 new businesses open every month? That small businesses drive U.S. employment growth by generating three-fifths of all new jobs?
We can keep going, but we’re sure you get the point – small, local businesses do more than they’re given credit for. Local businesses are the driving force behind local economies and play a big part in the success of the nation’s economy and workforce as well. Supporting local businesses is beneficial to you and your community, and we’re going to tell you more about why.
Local businesses are all about community. In fact, the small businesses in a community are what give your town or city its uniqueness – local businesses can’t be found anywhere else, versus chain stores that can be found nationwide, which makes them a special part of where you live. The “personality” of your area is often greatly attributed to by the businesses that are around.
Compared to national chains, local businesses donate significantly more money per sales dollar to the community. Whether that’s giving back to non-profits, sponsoring local events and sports team, or donating to charities, local businesses keep the community in mind.
Since business owners are locals – just like you! – they’re less likely to leave your town or city. Plus, they’re more invested in the community’s future. They’re also more likely to use local service providers and other local businesses for their needs. Local businesses support local businesses!
Local businesses stimulate the local economy in several ways. More than half of all Americans work for a small business. In addition, out of every $100 spent at a local business, $68 of that stays in the community, compared to $43 out of $100 from national chains. More money in the community means growth is possible, and that includes better public services like schools and emergency response.
And, in order to stay ahead of larger chains, local businesses are required to be more competitive. Local businesses are innovative and thrive off serving needs in the community. The more needs that are met, the happier the consumer, which means local businesses can prosper and provide more to the economy. Like we said before, local businesses create sixteen times more new products and inventions than national chains.
Local businesses are locally owned, which means business owners and employees are more invested in you, the customer. They cater more to your needs and wants by paying attention to what’s necessary or popular in the community. This usually means more thoughtful, higher quality products than national chains might offer.
Business owners hire locals like them who have been in the community and are likely familiar with the business prior to hire. Business owners can also work more directly with their employees, which means customers can be given the most informative and beneficial help. Local businesses need a loyal customer base to survive, so they go above and beyond to support their customers. This is why customer service in local businesses is more personable and positive.
Another positive to local businesses is that they leave behind a smaller carbon footprint. Local businesses take up less space and typically set up shop in town rather than building and contributing to congestion and habitat loss. Local businesses buying from each other also means less transportation, which equals less pollution.
Supporting your local businesses isn’t just good for them – it’s good for you, too. Local businesses bring life to their community and stimulate their economy. They’re more likely to give back and provide more jobs than national chains. They’re innovative and engaging… and they need your support to stick around. Be local, buy local.