Since last year looked a bit different than most, it just might be the perfect time to support small businesses by purchasing gifts or dining outside at your local family-owned restaurant. Next time you think about purchasing a gift or even just a simple cup of coffee, here are some things to consider why you should buy from a small business versus a large corporation.
When you support a small business, you are supporting the local community. By stopping by the mom and pop coffee shop instead of going to the nearest Starbucks, you are helping to stimulate the local economy and keep businesses booming within your local region. Buying from local stores actually keeps the money within your community as $68 of every $100 spent at a local independent store is reinvested in the community versus $43 with a larger retailer. Plus, small businesses within the community tend to care more about your neighborhood and are more likely to donate to charities and non-profit organizations or even support local causes.
Care and Quality
Small businesses are owned by individuals and families compared to a board of members and stockholders. With this in mind, the care and quality of the products tend to be stronger as the products are a direct reflection of those individual storeowners rather than a large corporation making a mass production. Small business owners focus on the details and tend to make it a more personalized experience within their products and customer service.
When you support a local business, you are helping them stay afloat and ultimately creating jobs within their business. By purchasing something from their store, you create a domino effect. They will have more money to support themselves and even hire more individuals to help in their store. By giving them business, it not only helps them, but also helps your local economy. Thus, creating a better neighborhood for you and your family to enjoy.
If all your community had to offer was big brand name businesses, like McDonald’s, Starbucks, Target and Walmart, what would be the allure of your community? By having smaller, local businesses, you can increase the tourism within your community. Having a must-try local steakhouse or a small mom and pop gift shop that visitors want to see creates a better economy for your entire community.
Due to having such large competitors, small business owners have to keep on their toes and stay relevant to stay afloat. This is where innovation begins and entrepreneurs are created. The products you’ll see at a small business are usually always changing in order for them to keep up with current demand. When you shop local, you are funding great ideas and ventures that can only exist outside of mainstream, corporate chains.
Supporting the American Dream
The American Dream is a set of ideals in which freedom includes the opportunity for prosperity and success achieved through hard work. While we all have the right and ability to create a business and fulfill this American Dream, starting a business takes a lot of hard work, dedication and a ton of risk. By supporting a small business, you are not just supporting a local store, but supporting someone who has taken a leap and risk to create his or her American Dream.