What are the advantages of small businesses and shopping local? Not only can it support your local economy & community, but you could also get better products and services. Learn how in our article below.
So, you need some new shoes. Or a plumber. Or you want to go out to eat. Or buy a delicious green juice.
Where are you going to go? Do you choose the nationally recognized chain that has 100 locations throughout your state? Or, do you choose one of the over 30.7 million local businesses in the United States?
Oftentimes it’s easier to work with a chain or a large company thanks to their name is widely known and their prices likely being slightly cheaper. However, there are key advantages of small businesses for you, the businesses, and your local economy!
Let’s look at a few of those examples today in this post.
Work with Local Experts
Local small businesses are experts in your area. These are the businesses that will best understand the demographics, the specific problems in your area, how various markets and industries are doing, and more.
Take local moving services for example. If you live in Boston, you’re going to want to work with Boston movers, as they’re the ones who will understand the area, the best route, common problems with moves in the area, etc.
Another example would be a tax professional. While a national chain could certainly get your taxes done for you, local experts will understand state requirements, local regulations, and other things that only true locals would understand to give you better and more targeted service.
Advantages of Small Businesses: Better Customer Service
Speaking of service, one of the areas that are lacking in large companies is personable and accessible customer service representatives. Many customer service representatives at large companies end up as either robot, people overseas with a language barrier, or they’re forced to follow scripts and guidelines that most of us have experienced as unhelpful time wastes.
One of the advantages of small businesses is that they have the ability to provide better and more personalized customer service to each of their customers. Because the customer base is smaller, they’ll have more resources and bandwidth to provide customers with higher quality and more easily accessible customer service.
Support Local Economies
When you spend your money at local businesses, most of that money stays within your local community to support public spaces, locals’ livelihoods, and the general support of the economy.
One study found that for every 100 dollars spent at local small businesses, about 68 dollars of that stays in the community. On the other hand, 100 dollars spent at a chain will only provide 43 dollars that stay in the community.
Spending money at local stores and services works to stimulate your local economy instead of supporting large corporations and conglomerates that won’t work to put that money back into the community.
Support Local Communities
Supporting local economies will, in turn, support local communities. Your money spent at a local restaurant vs a chain works to support your community member’s livelihood.
It gives people jobs, money to feed their families, and it supports a community that’s thriving and provides services & entertainment for other local residents.
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