Supporting Small and Local Businesses: Why Is It So Important?

by kdizzle
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three small business buildings with clouds and sun in the background

America is a great country that was built one small community at a time. And, we all know that small businesses are at the heart of every local community. Supporting small and local businesses is important for so many reasons, but most of all, a healthy, thriving local business community helps support a healthy, vibrant local community for all of us! 

Moneytree understands the importance of supporting local businesses because we are a local business ourselves, built from humble beginnings. And, the support from our customers means we can continue prospering as a business, provide valuable services for our neighbors, and give back to people who live and work in our own Moneytree communities

So how does supporting small or local businesses help?

What supporting small businesses REALLY does.

One word, seven letters: E-C-O-N-O-M-Y. Let’s face it, money makes the world go around. Money circulates – it doesn’t just stay in one place. When you shop locally, your bucks don’t just go to the local businesses. Those businesses use that money to hire local employees, pay local landlords, buy supplies and equipment (sometimes locally), open up new local locations, and bring innovative products and services to … you guessed it, local customers.

All of this contributes to a more vibrant community experience and higher standards of living … locally. And, small local businesses even carry a ton of water for the national economy. In the U.S., small businesses generate 1.5 million new jobs every year, helping to keep things chugging along at a nice, sweet pace.

But that’s not all. Small business owners are likely to pay it forward by supporting other small businesses and giving back to the community. Donating to local charities, volunteering their goods or services, sponsoring community events, or doing career demonstrations at local schools are all ways in which small business owners give back. These acts of generosity build relationships within the community and help those who are less fortunate – right where they live. 

And if it doesn’t put you in a bind, spending an extra dollar on something unique or that is made locally or even hand curated is definitely worth it. (Psst … check out some ways to trim your spending elsewhere so you can afford the local splurge). Moreover, small business owners often provide more specialized service and expert advice, as they truly rely on your business. If you hire from a small business owner, you’re likely to find that the service you receive is top tier.

How can I support small businesses?

There are a lot of options for supporting local and small businesses. Here’s a short list of ideas to get started:

  • Shop small. This is probably the most obvious, but check out that wonderful little bakery, hardware store or pet shop the next time you’re strolling down the street. You might find some unexpected treats and the overall experience may be far superior to the parking, lines and commotion of visiting a national retailer. Also, keep in mind that some small businesses sell their products at local fairs and events or even online. So head to your favorite online search engine and do some research.
  • Buy gift certificates. They make for a perfect birthday, wedding or Christmas gift, and can help small businesses during slower seasons by keeping the money flowing.
  • Sometimes you’re not in the mood to go out for dinner, buuuuuuut you also don’t feel like cooking anything. We’ve all been there! But, if you choose delivery or takeout, your order will help a local restaurant AND its delivery drivers. It’s a double win!
  • Hire someone who has their own local business for services like landscaping, dog walking, painting, event planning, hairdressing, auto-repair, plumbing, floral arrangements, jewelry making, you name it. Where there’s a service, there’s an expert; and a local business owner behind the effort.
  • Share the word! If you don’t have the means to help small businesses financially, there are others who do. And we’re sure they’d love to hear your unique and one-of-a-kind suggestions. You can also simply leave a positive review for them online or mention the business on social media. Many businesses rely on reviews. Think about it, are you more likely to go somewhere if they have a 5-star rating on Google or Yelp versus no rating? Probably!

Now that you know a bit more about supporting small and local businesses, go have fun contributing to the success of your community by supporting your neighbors! 

Want more money-saving tips? Visit the Financial Living page.

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