The Covid-19 Pandemic has been far from easy for small businesses across the globe. Over 43% of the small businesses had to temporarily close their doors.
Statistics explicitly show that small businesses are the lifeblood of the world economy.
We must understand the reason to support small businesses and stop feeding the big sharks. Hence, find out why you should shop local because only this way small businesses can be removed from life support and get a fair chance for survival.
1- Boost the Local Economy
Small businesses are leading the employers internationally. They tend to hire people from close surroundings, keeping the money within the community.
According to the UK statistics, for every £1 spent in a small or medium-sized business 63p stay in the local economy, compared to 40p in a larger business.
Furthermore, small businesses play a significant role in product diversity by collaborating with local entrepreneurs.
2- Shape the Community Identity
The welcoming attitude of small businesses towards strangers and returning customers sets an example for everyone to support them.
Local businesses promote tourism by creating a culture that easily becomes a trademark for the place.
In addition to that, small businesses are the biggest supporters of charities and are keen on donating to organizations that struggle with issues within the community.
They pass on their skills to the youth which is crucial for the future growth and development of the town.
3- Preserve the environment
As local businesses tend to employ people in close surroundings who do not need a car to get to work, thus decreasing carbon emissions.
More importantly, because they tend to use local suppliers and collaborate with other town businesses, reduces the bad impacts of transportation and distribution on the environment.
4- Offer a Better Shopping Experience
Small businesses are a source of creativity and originality. They are more than happy to customize a product according to your requirements. They ensure a smooth customer experience by going the extra mile. They certainly know how to connect with customers on a personal level. In small stores, there are no crowds and your presence there is as glorified as a religious miracle.
5- Make their dream come true
Local businesses are built by ordinary people who often are our friends, family, or neighbors. Small business owners put everything they have in life at stake to make their dreams come true. And if we take a deeper look, they often have a couple of mouths to feed at home, a mortgage to pay, and/or a roof to fix, etc.
6- Quickly adapt to changing climates
As local businesses are customer-oriented, therefore, they can adapt to changing economic climates more quickly than large corporations.
Due to their dedication and good customer service, customers often choose to support small businesses in tough times and are most likely to remain loyal to local businesses during an economic downturn.
Moreover, since the revenue of local businesses is less compared to larger corporations, they may have less to lose in times of economic crisis.