How local businesses support the community

by Mai Le | Mar 2, 2021

As Covid-19 hit the economy, people are talking a lot about supporting local businesses. You might sometimes wonder: Why should I be doing it? Does it do any good for myself and my community? Short answer: Yes, it does! Keep reading to explore how it is the case.

 

How local businesses support the community

Local businesses pay local taxes, which helps the city raise budgets for roads, schools, and green spaces improvements. In that way, the money that shoppers spend locally come back to better their own lives. Shopping online, for example, may not remain tax revenue in a society. In addition to that, it also lowers poverty levels as more people become entrepreneurs, while others gain jobs. This is one of the most valuable benefits of shopping local.

Local businesses provide jobs for the local population. They employ people who are staff, suppliers, customers, managers, store managers, cashiers, and anyone else involved. These businesses fuel their employees, who in turn are the customers for the other shops in the area. This supporting circle create an economically strong and sustainable community. When you go online to shop you don’t even know if you will be supporting a local store.

 

Benefits of shopping locally

The biggest advantage of shopping locally is the interaction you can have with your neighbours. When you go into a shop and see a staff, you can build a relationship with, and have them help you in buying a product. They know what products are available for your needs and will be able to give you the best price as well. Moreover, you know they are going to keep your money in the local economy, which helps in stimulating it further.

Further benefits: local businesses also provide the best quality goods in the market, often locally made and locally sourced – a bunch of fresh flowers just being cut right from their garden, or a hot loaf of bread just came out of the oven. Local shop owners are motivated to offer high-quality products to satisfy their local shopper needs. Because you are not only their customers, you are their neighbours and supporters as well. The latest trends in the market are also provided by local businesses and they can provide the products that you require at the best price.

 

Why you should support local businesses too

Local businesses invest locally. They hire locally, develop local talent and get involved in community organizations. By doing all that, they offer excellent products and service that meet the needs of their customers. On top of that, they provide customers with a sense of community and belonging. If you support local businesses, you will also benefit financially and emotionally. You will benefit in terms of the amount of money you save, in reduced transaction costs, and in reduced administrative expenses. At the same time, you will know that you are doing your bit for your community. At the end of the day, you will feel good that you contributed to the betterment of the community, and that you helped your community thrive.

 

All in all

Now you have known that shopping locally definitely benefits you and your community. So, when you are about to shop online, ask yourself, “May I find this stuff at the local shops nearby?” And, “Am I happy to support a local business or would I rather support a big corporate?”. You sure have your own answer for that. In addition, local businesses usually offer discounts for loyal customers, make sure you shop with a loyalty card as well, which will give you extra savings on your daily expenses. Or you can join LoyalRate to get updated on the latest discounts offered by your local shops.

Written By Mai Le

I love helping small businesses to succeed. I also love working with shoppers to help them save money. A maximalist. Serial entrepreneur. Founder of LoyalRate.

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