According to the SBA, the United States is home to 28.8 million small businesses — which accounts for 99.7% of all US businesses. Small and independent businesses have undoubtedly played an integral part in spearheading the fast-paced growth of our country since 1776 — boosting the economy, creating jobs and ultimately, serving as a foundational stepping stone towards the American Dream.
Yet, there are a lot more than just financial losses to consider when we allow these businesses to disappear.
Why you should shop locally and support small businesses?
Look what happened during the lockdown. Small businesses were forced to close their doors, while Amazon doubled their income compared to last year.
So we must understand the reason to support small businesses and stop feeding the big sharks. Hence, find out why you should shop local because only this way small businesses can be removed from life support and get a fair chance for survival.
- INDEPENDENCE AND AUTONOMY
Although small-business ownership is a longstanding and traditional way of earning a living, it bucks an ongoing trend of large companies consolidating, building economies of scale and spreading homogeneity.
A chain restaurant in the Midwest will be virtually the same as a version of the same restaurant on the East or West coast, and a pharmacy with locations across the country will reflect the same values, wherever it is located, whether it focuses on convenient delivery of pharmaceuticals or processed convenience foods.
- THEY CONTRIBUTE TO COMMUNITY IDENTITY
Small businesses also contribute to the identity of the local community where they operate. Since many small-business owners are very grateful for the support of the community, they often enjoy returning the favor by participating in community events and donating to local nonprofits. It’s all about being an active member in the community and improving the community on different levels.
- STRENTHEN LOCAL ECONOMY.
According to Civic Economics, for every dollar you spend at an independent business, 3 times more money is returned into the local economy, compared to that spent at a larger chain (50 times more compared to an online retailer). This money is going right back into the community you live and work in, helping support valuable programs for yourself and your family.
- PUBLIC BENEFITS AND COSTS
Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
- ENVIRONMENTAL SUSTAINABILITY
Local stores help to sustain vibrant, compact, walkable town centers-which, in turn, are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.
- COMPETITION
A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long term.