Supporting A Local Business in Your Community Is Important
5 Reasons Why Supporting A Local Business in Your Community Is Important
The prosperity of your country can be weighed by the number of businesses that operate within it. This is because small businesses generate economic progress, bringing about development and success to the country and the community.
However, the contribution of small businesses is not just restricted to economic welfare; it also stretches to being a part of collective social and communal growth.
A new, local business just opened up in your community? Then take a look at the 5 reasons why it is important to support a local business in your community:
1. Community’s Prosperity
The new local business in your community will contribute to your overall social welfare. Unlike the case with massive, multi-national chains that hoard profits for their own interests, the local business is a part of your community, perhaps even established by someone you know. With your support as a consumer, the local business will thrive and give back to the community, aiding in an overall prosperity.
2. Collective Identity
As part of your community, you develop a sense of belonging and pride yourself in being a member of this very area. Local businesses allow you to cherish your sense of identity and belonging as their success attracts tourism, making you feel like the whole world is in your favor. Have you ever seen how the New Orleans has developed a sense of collective identity by enhancing the French Quarters? The number of tourists it attracts is phenomenal! Therefore, simply by supporting a local business in your community, you are in fact constructing a character for your neighborhood, allowing you to contribute in its socio-economic progress.
3. Community Involvement
Remember that the entrepreneur of the local business operating in your community is an integral member of your community. With your support, as their business thrives, they will be able to get involved in the community, monetarily. For instance, they will be able to set up functions, donate for charities, and sponsor events to encourage young talent or even participate in promoting a social cause. In the longer run, this will bring about a positive social change in your community.
4. Lower Prices
Plenty of local businesses in comparison with a massive store with a market monopoly will be more fruitful for the community as a whole. This is because businesses with monopolies have a predatory culture, benefiting self-interests only. On the other hand, local businesses will have competition in the market, allowing them to keep the prices of their products low. In this way, with just your consumerist support, you will be encouraging a competitive market, and help your community enjoy a cost-effective lifestyle.
5. Greater Employment
Local businesses start out at a small scale. With your support, they grow and expand themselves. It is inevitable for them to need more help in a bigger workplace, creating opportunities for younger people in your community which leads to greater employment.
While you’re contributing to a collective growth by supporting local business in your community, you’re benefiting self-interests as well, allowing you to enjoy a better lifestyle and be a part of a friendly community!
Support your local business because you’re the one who has got to have their backs!