Last year, Forbes described the core reasons why shopping at your local business is good for your local community and the economy. Read on to see how shopping locally benefits not only your own community but the overall economy.
Stimulate Local Economies—By committing to shop local or supporting small businesses, you keep money in your community and the tax revenue made through sale taxes from local businesses supports the local government which reinvests in your community.
Reduce The Carbon Footprint—A local small business tends to make more local purchases, which requires less transportation, therefore less pollution and congestion. As they are set up in your town or city, it will generally reduce traffic, habitat loss, and resource depletion.
Create More Jobs—Small businesses are the backbone of our economy. In 2019, the United States had 30.7 million small businesses and they employed 47.3 percent of the private workforce. After the pandemic, we have come to realize how important our local businesses are to our community’s economy as small businesses played a major role in job creation following the COVID-19 pandemic shutdowns.
Give Back to The Local Community—Small businesses are known to play a significant role in supporting local community charities, youth organizations, local first responders, local service groups, and more.
Better Customer Service—Local store owners value each of their customers, as the success ofhtheir own business replies on their customers’ happiness. Employees often personally know their customers, making for an overall satisfying experience.
Nurture Innovation and Growth—For small businesses to succeed, they need to compete against large national chains. This makes them creative, with new ideas for unique products and options. As they know more about customers, they can better address their needs.
Support The American Dream—By supporting small, local businesses, you’re supporting real, hard-working people who have made sacrifices to build their businesses and believe in what they accomplish.
So, remember to leave a great review for your local retailers and help keep small businesses strong and growing.