4 Reasons to support local businesses near me! How to support local businesses?Vikram Deo February 9, 2021 0 COMMENTS
We hear a lot about the large companies in the news but do you know about local businesses near me? But do you know that small business is the main engine of the economy of a country? The studies say that there are 28 million small businesses in America that involve more than 57 million workers. And, if you add the owners and the workers together. It will be around 85 million people who are entirely dependent on small businesses. You must also know that those small business owners are the most numerous job creators in the country. More than half of the employment of a country is being done by small businesses.
The reason behind that is small businesses are often growing and looking for new markets to expand their wings. And for that, they need additional employees and strength. On another side, large businesses generally recruit new employees to replace the ones who have left the company. But high taxes, health care, finance, and labor hurt the small businesses and prevent them from growing properly. That is the reason when the recession is coming. The small businesses are being affected mostly.
To bring small businesses back and strengthen the job market, the consumer must support the local businesses near me. Based on the statistics given above for the United States, it is easy to understand for you why small businesses need support. Our huge number of employees are working in the small business industries. Below are the 4 reasons to support local businesses near me.
Money directly to the community
The first and the most important reason for supporting local businesses near me is to buy the product directly from the small business owners. This example will make this topic easier to understand for you. Suppose you are purchasing a product from a large company for $10. The amount that you have paid will be divided into four main parts. One part is for the taxes, the second part is for the bank, the third one is for the leading company, and the last one is for that person who sells that product.
This means you are buying the product for $10 and the seller of the product is expected to get only 2 to 3 dollars and the manufacturer will get as low as $1 for the product. But if you buy the product directly from the business owner or manufacturer, you can buy it for 5 to 6 dollars. This will be beneficial for both you and the small business owners. And the person or community who is making the product will get more money.
Keeping the local culture alive
Every locality in the world has its own culture. Wherever you go, you will find some unique creations of that locality based on the local culture. So if you buy the products from small businesses, it will encourage the local community to produce more things. Thus, you can keep the local culture alive by purchasing products from the local community. Japan is one of those countries in the world with the highest annual GDPs. This is only because the government fully supports local and small businesses. If you walk through Tokyo’s streets, you will see there are thousands of small local businesses everywhere. Japanese citizens love to buy products from local small businesses.
So, whenever you are willing to buy something, first of all, try to find that in the local market. It will save your money as well as help the small business owners. If you do not see that product in the local market, you can go for the large-scale companies to buy exactly what you want.
More accountable to local businesses near me
Buying something from a local business is an exceptional thing. The trust between the seller and the buyer becomes stronger in local companies. So if you are having an issue with the product, the business owners will be happy to help you. They will discuss with you through one and one sessions to know what problem you are facing with the product. This builds up the level of trust between a seller and a buyer. Now, if you are buying from a branded company, you will never get the chance to meet the manufacturer or seller of the product.
Whatever you need, you will have to talk with the company executives. That is why buying from a small business can be more accountable for you. Small business owners always try to educate you more about the product and its features by sometimes going beyond standard business principles. Moreover, he or she will be frank with you.
Support the innovation to support local businesses nearby
Local small business owners generally take risks and challenges to establish themselves in the market. And that brings the innovations for you. They create new kinds of products with more benefits and sell them to the local community. Now it is your job to support these innovations to encourage them to continue with their work and designs. Sustaining innovation is always a good thing. You can help these small innovations by buying the products directly from the small business owners. So next time before purchasing a product, try to think and figure out how much money the person gets who made the product for you. think wisely. You will come to realize the importance of supporting the local businesses near me.
So, this is all about the four main reasons for supporting local businesses near me. Always remember that local businesses increase the GDP of a country. That is why large and developed countries like the United States, Japan, etc., are emphasizing more on the local businesses. Also, keep in mind that some small business owners I am not honest with their customers. They try to fool the customers by selling fake products. This might break the trust of the customers in small businesses. But that percentage of people is deficient.