As small businesses are growing in the market day by day, it has become all the more important to support them as much as possible. About 97.25% of the total business in Canada accounts for small-scale ones. Giant businesses won’t suffer a setback if a handful of customers don’t shop with them. However, for a small business that is still finding its feet around the block, that handful can be a turning point. Therefore, it is has become all the more important to support and encourage small and upcoming business ventures, more so after the pandemic left them struggling. Having said that, we have brought for you the five big reasons why you should shop for small businesses every day.
- Building and Strengthening Local Communities
A small business owner can be anyone – your neighbor, a friend, a distant relative, or even your family In supporting small businesses you are not just helping them but also building and strengthening your local communities. Cox Blue writes, “When you purchase local products in abundance, those small business owners will see the community as a desirable place to continue growing their business.”
- Small Business Gives Back More to the Community
When a small business is successful, they give back more for the development of their communities. They revitalize neighborhoods, make fresh recruitments, help the local schools, hospitals, libraries, and other public services. Therefore, small businesses act as a big boost to not just the economy of the city but also the country at large. As per Civic Economics, “on average, 48% of each purchase at local independent businesses is recirculated locally, compared to less than 14% of purchases at chain stores.” Well, the numbers speak for themselves!
- Small Business Offers Better and More Personalized Customer Service
Have you ever walked in a local store where the owner knows each one of his customers by their first name? You must have! Such owners are friendly, engaging, ready to offer you any help, and even eager to help you when you don’t have the cash. Can you expect the same at a big franchise with stores all around the globe? Not really! With small businesses, there is a guarantee that the products and services offered would be exemplary and a trust that they won’t cheat you for your penny.
- More Job Opportunities
As per Calgary Herald, “Small businesses represent 97.9 percent of all Canadian businesses, contributing almost half of the GDP generated by the private sector. Collectively, small businesses are the country’s largest employer, putting more than 8.4 million Canadians to work.” No wonder as a small business starts to grow, they start creating employment opportunities for everyone around them.
- Boosting the Local Economy
A thriving community relies on taxes coming for the locals in order to maintain various public infrastructure including parks and beautify neighborhoods. Cox Blue states, “Every time you purchase a product or service from a local business, the owner will pay their share of local business taxes into the community. Your money stays in the community and reenters it to contribute to a positive economic structure.”
To Wrap It Up
When it comes to small businesses, there is no negative aspect about supporting them. Instead, it only adds up to a long list of benefits that small-scale businesses offer. You can find more detailed information about how you can support your local businesses by subscribing to the CanadianSME small business magazine.
Remember, next time when you need something and were originally planning to go to a big retail chain, sit down, think for a moment, and look for a small business around your block. Remember, your support can make a huge difference!
