In these unprecedented times, consumers pinch pennies and eliminate most luxuries. From cutting back on extras to more prudent spending and budgeting, people inject a degree of caution into their financial habits. With this pandemic lock down, smaller, local businesses count on your patronage in order to stay afloat. Every transaction is precious to them. So when you want to order your dinner or purchase a gift for your loved one, consider the benefits of turning to local, independently owned businesses within your community. Why shop local? Here are several reasons you should turn to locally owned businesses first.
Why Shop Local?
By supporting local businesses, you are in turn supporting your local economy. Significantly more money stays in a community when purchases are made at locally owned rather than nationally owned businesses. Local businesses are more likely to utilize other local businesses such as banks, service providers,and farms. For every $100 you spend at local businesses, $68 will stay in the community. When spending the same at a non-local business like a national chain, only $43 stays in your community. Why shop local? Because the money stays in your community. Independent retailers return more than three times as much money per dollar of sales to the community in which they operate than chain competitors. Independent restaurants return more than two times as much money per dollar of sales than national restaurant chains.
In addition to helping build the local economy, there are also other benefits that come from supporting businesses in your community. Local businesses are owned and operated by the people in your community! They care about their community and they invested in it’s well-being and its future. With that being said, local businesses are more accountable to their local communities and also donate more to non-profits.
So the next time you need to do a little shopping, seek out a local business and see what they have to offer! Why shop local? Because you could discover some great products and services while helping to build a strong and successful community around you.