It’s often a matter of pride to support the small businesses around us, putting our money where our mouth is, supporting the little guy, representing our neck of the woods and for good reason. Buying locally can often be more expensive, but it’s by no means without substantial benefits. Let’s discuss why supporting those small businesses pay out big in the long run.
We’ve all seen it driving through rural America, the small towns with abandoned houses, communities with boarded-up windows and too many empty shop fronts; evidence of expansion and then recession in the town. Monopolies often make for an unsteady economy on both the national and the local scale. Compare it to being a large company with only a single customer to rely on- if that customer goes belly up, you’re going with them.1
Diversity in our economy is just as important as diversity in our community. Don’t put all your eggs in one uncertain basket. Invest in diversity and ensure their longevity and success.
Let’s be honest, I’ve gotten excited about the new franchise moving into my little town before. It provided me with convenience and delicious food, but we don’t always realize that we’re placing our precious money into the hands of the wealthy CEOs- and taking that money out of circulation in our local community.
When you buy local, your money stays local, cultivating growth and expansion within your own town.
It’s becoming increasingly popular in this culture to invest in the restoration of the old as opposed to the installation of the new. Small businesses and startups usually want to avoid large initial expenses and, shockingly, building a new office is usually not cost effective for a launching company. Instead, we can find these companies moving out of garages and filling those empty offices and forgotten warehouses. This can be both aesthetically pleasing and environmentally friendly, sprinkle on a little nostalgia and upgrading the old can have a significantly positive effect on your community.
Smaller companies can cater to you in ways that larger companies will never be able to. Many larger companies maintain clarity by following protocol to the letter. Smaller companies have the flexibility to customize their services to better serve you. Could you imagine a world in which Jeff Bezos, the CEO of Amazon, worked alongside his warehouse employees, moving product and shipping packages? Or Larry Page sitting down with his entry-level coders at Google.com to help them master new algorithms? With small and local businesses, it’s not unusual to see CEOs, owners, and presidents interacting with every employee and involved in every level of the business. Communication with employees who can make a difference for you is far more likely with small businesses than large corporations. Pick up your phone and try to get a direct line to Bill Gates, now call Jireh Industrial Services and ask for Tom Duby- who did you get through to?
Small business owners rely on their company for survival. They have to be gritty, passionate, and dedicated.
They don’t have a hefty severance package that will set them up for the remainder of their lives when they part ways with their company. This environment will make or break entrepreneurs, but this pressure also cultivates creativity, ingenuity, and experience. Small businesses are hubs for new ideas and discoveries. Who doesn’t want to support that?
Although it may not feel like it, your money matters. You can make a difference in your community.
Spend your money with intention, encourage others to do the same, and see the amazing changes that begin to happen. Empower your community by investing locally. Watch as you cultivate independence, applaud courage, and make changes. Support the small business industry!