This Valentine’s Day the news about Mikesell’s is a heart-breaking reminder to support your local small businesses. If an organization that has operated for over 110 years can close, then every local business is in danger. Here are three reasons why you should spend your hard-earned money locally.
Your Money Stays Here
In 2019, 47.3 percent of employees in the United States worked for small businesses. It’s likely you know someone who works for one: your next-door neighbor the landscaper, your nephew the HVAC apprentice, your friend the bookkeeper. By using their services, you keep your money in your community. You have much more influence locally than you have globally. Big box stores often get tax breaks from local governments that local small businesses do not receive. When you vote with your wallet by choosing to purchase local over big box stores, it is a statement of your values. Small businesses competing with one another prompts innovation and lower prices. This is why I like to frequent several local coffeeshops. (Okay, it is ONE of the reasons I spend so much money in local coffeeshops.) The sales tax from small businesses stays in your community. This money goes to pay for things like public schools, fire departments, and libraries. Local small businesses tend to transact with other local small businesses keeping even more money flowing through your local economy.
You Help People Make a Living
Sure, you can pick up Chipotle for lunch, but what about that Mom and Pop Mexican food restaurant down the street? Chipotle is not going anywhere, but every day Mom and Pop are struggling to stay in business. Some small businesses sell products that are locally made. The closer the product is to the place where it is sold, the less transportation it takes to get it there. This reduces the amount of fuel needed and saves the seller money. It also reduces the amount of emissions in the air making the environment more safe for everyone. Buying local allows more of your neighbors to make a living. That Mom and Pop Mexican food restaurant hires local residents as managers, servers, cooks, etc. Does your city have a farmer’s market? The space, products, and artisans are all local. Local small businesses positively impact your local economy in multiple ways throughout your community.
You Create Community
The more invested you are in a community, the more concerned you are about all of its citizens. Their welfare and future are tied to yours. Local small businesses are famous for supporting nonprofits. According to businessjournaldaily.com, small businesses donate 250% more than large businesses to community causes. Small local businesses sponsor kids’ sports clubs, food banks, and job-seekers programs. It’s likely that you can name several local small businesses that support the same nonprofits you do.
Valentine’s Day is the perfect occasion to show some love to your local small businesses. What are some of your favorites? Please give them a shoutout in the comments.