November 26th, 2019 | | John Ohlin
Locally-owned businesses play a significant role in keeping our communities thriving and successful. As you make your holiday shopping list this year, consider the roles that small business plays in our communities. Here are seven reasons to shop, bank, and dine local this season and all year-round.
- Job creation
Local businesses hire local talent. These jobs often range from entry-level to top leadership positions. What’s more, leaders of local businesses often take better care of their employees, providing more flexibility, better benefits and, in some sectors, better wages.
- Help the local economy
According to studies, nearly 70% of the dollars spent at local businesses remain in the community. That’s about 30% higher than chain store revenue. These dollars are reinvested by local business owners into our schools, churches, non-profits and fellow businesses.
- Support community
Locally owned businesses contribute to the community at nearly twice the rate of big box retailers and chain stores. This is because small business owners send their kids to the same schools as you, they attend the same church as you, they are at the same Friday night football games as you. They support the community because they feel ownership and pride in the same community that you do.
- Maintain uniqueness
By supporting local businesses that are unique to our community, you’re helping the city maintain our uniqueness, which is part of our competitive edge.
- Get better service
Working with small businesses typically means the owner is available and ready to help. You’ll receive a more personalized shopping experience and often have direct access to the person that best knows the products and services. Your questions will be answered by an expert who has a personal stake in your satisfaction.
- Reduce environmental impact
Local businesses tend to produce less waste, consume less land and import less goods from other areas. This helps maintain resources like land, roadways and air-quality. Also, because the business owner typically lives in the community, they’re better stewards of the resources.
- Enjoy health benefits
In addition to tasting better, locally grown foods offer their own array of benefits. Studies show that locally grown food that is purchased and eaten soon after harvest maintains more nutrients than food that is frozen or sits on the grocery store shelf for weeks at a time.
These are just some of the reasons why you should shop local – there are plenty more like the simple convenience. As a community bank, we pride ourselves on helping other locally owned businesses serve, support and encourage our communities.
We challenge you to shop local this holiday season!